GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
2021AnnualReport
March2022
I.ImportantNotice,TableofContentsandDefinitionsTheBoardofDirectorsandthedirectors,SupervisoryCommitteeandsupervisorsandSeniorExecutivesoftheCompanyherebywarrantthatattheyear,therearenomisstatement,misleadingrepresentationorimportantomissionsinthisreportandshallassumejointandseveralliabilityfortheauthenticity,accuracyandcompletenessofthecontentshereof.
Mr.ZhengRenfa,TheCompanyleader,Mr.WangChunhua,GeneralManager,Mr.LuMing,ChieffinancialofficerandtheMs.ZhouFang,thepersoninchargeoftheaccountingdepartment(thepersoninchargeoftheaccounting)herebyconfirmtheauthenticityandcompletenessofthefinancialreportenclosedinthisannualreport.AllthedirectorsattendedtheboardmeetingforreviewingtheAnnualReport.ThetollrevenuesofExpresswayismainsourceofthemajorbusinessincomeofthecompany,Thechargestandardofvehicletollmustbesubmittedtothesamelevelpeople'sgovernmentforreviewandapprovalafterthetransportregulatorydepartmentofprovince,autonomousregionormunicipalitydirectlyunderthecentralgovernmentinconjunctionwiththepriceregulatorydepartmentatthesamelevelconsenteduponexamination.Therefore,theadjustmenttrendofthechargepriceandthechargepriceifhasthecorrespondingadjustmentinthefuturepricelevelwhenthecostofthecompanyrisesstilldependontheapprovalofrelevantnationalpoliciesandgovernmentdepartments,andthecompanyisn'tabletomaketimelyadjustmenttothechargestandardinaccordancewiththeitsownoperationcostorthechangeofmarketsupplydemand.So,thechangeofchargepolicyandtheadjustmentofchargestandardalsohaveinfluenceontheexpresswaysoperatedbythecompanytosomeextent.So,thechargingpolicychangesandchargesadjustmentwillaffectthehighwaysoperationofthecompany.Theprofitdistributionproposalreviewedandapprovedbytheboardingmeetingwassummarizedasfollows:
2,090,806,126forthebase,theCompanywoulddistributecashdividendtoalltheshareholdersattherateofCNY
5.70forevery10shares(withtaxinclusive),0bonusshares(includingtax)andnoreservewouldbeconvertedintosharecapital.
TableofContents
I.ImportantNotice,TableofcontentsandDefinitionsII.CompanyProfile&FinancialHighlights.III.ManagementDiscussion&AnalysisIV.CorporateGovernanceV.Environmental&SocialResponsibilityVI.ImportantEventsVII.ChangeofsharecapitalandshareholdingofPrincipalShareholdersVIII.SituationofthePreferredSharesIX.CorporateBondX.FinancialReport
Documentsavailableforinspection
1.Accountingstatementscarriedwithpersonalsignaturesandsealsoflegalrepresentative,GeneralManager,ChiefFinancialofficerandFinancialPrincipal.
2.OriginalofAuditors’ReportcarriedwiththesealofCertifiedPublicAccountantsaswellaspersonalsignaturesofcertifiedPublicaccountants.
3.ThetextsofalltheCompany'sdocumentspubliclydisclosedonthenewspapersandperiodicalsdesignatedbyChinaSecuritiesRegulatoryCommissioninthereportperiod.
Definition
Termstobedefined | Refersto | Definition |
Reportingperiod,Thisyear | Refersto | January1,2021toDecember31,2021 |
Reportingdate | Refersto | Theannualreportofthecompanywasapprovedbytheboardofdirectorson2021,thatisMarch15,2022 |
YOY | Refersto | Comparedwith2020 |
TheCompany/ThisCompany | Refersto | GuangdongProvincialExpresswayDevelopmentCo.,Ltd. |
CommunicationGroup | Refersto | GuangdongCommunicationGroupCo.,Ltd. |
ProvincialExpressway | Refersto | GuangdongProvincialFreewayCo.,Ltd. |
FokaiCompany | Refersto | GuangdongProvincialExpresswayDevelopmentCo.,Ltd.FokaiBranch |
ReconstructionandextensionProjectoftheSouthSectionofFokaiExpressway | Refersto | ReconstructionandExpansionProjectofSanbao-ShuikouSectionofFokaiExpressway. |
GuangfoCompany | Refersto | GuangdongGuangfoExpresswayCo.,Ltd. |
GuangdongExpresswayCapital | Refersto | YuegaoCapitalInvestment(Guangzhou)Co.,Ltd. |
GuangzhuEastCompany | Refersto | JingzhuExpresswayGuangzhuSectionCo.,Ltd. |
GuanghuiCompany | Refersto | GuangdongGuanghuiExpresswayCo.,Ltd. |
II.CompanyProfile&FinancialHighlights.
1.CompanyProfile
Stockabbreviation: | ExpresswayA,ExpresswayB | Stockcode: | 000429,200429 |
Stockexchangeforlisting | ShenzhenStockExchange | ||
NameinChinese | 广东省高速公路发展股份有限公司 | ||
AbbreviationofRegisteredCompany(ifany) | 粤高速 | ||
Englishname(Ifany) | GuangdongProvincialExpresswayDevelopmentCo.Ltd. | ||
Englishabbreviation(Ifany) | GPED | ||
LegalRepresentative | ZhengRenfa | ||
Registeredaddress | 85BaiyunRoad,Guangzhou,GuangdongProvince | ||
PostalcodeoftheRegisteredAddress | 510100 | ||
Historicalchangeofthecompany'sregisteredaddress | 1992—1999,4/F,DongjianBuilding,No.503,DongfengRoad,Guangzhou;Since1999,85BaiyunRoad,Guangzhou,GuangdongProvince | ||
OfficeAddress | 45-46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDisrtict,Guangzhou | ||
Postalcodeoftheofficeaddress | 510623 | ||
InternetWebSite | www.gpedcl.com | ||
ygs@gdcg.cn |
2.Contactpersonandcontactmanner
Boardsecretary | SecuritiesaffairsRepresentative | |
Name | YangHanming | LiangJirong |
Contactaddress | 46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDistrict,Guangzhou | 45/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDistrict,Guangzhou |
Tel | 020-29004619 | 020-29004523 |
Fax | 020-38787002 | 020-38787002 |
Hmy69@126.com | 139221590@qq.com |
3.Informationdisclosureandplaced
NewspapersselectedbytheCompanyforinformationdisclosure | SecuritiesTimes,ChinaSecurities,ShanghaiSecuritiesDailyandHongkongCommercialDaily. |
InternetwebsitedesignatedbyCSRCforpublishingtheAnnualreportoftheCompany | www.cninfo.com.cn |
TheplacewheretheAnnualreportispreparedandplaced | SecuritiesaffairDeptoftheCompany |
4.ChangesinRegistration
OrganizationCode | 91440000190352102M |
Changesinprincipalbusinessactivitiessincelisting(ifany) | Nochange |
Changesisthecontrollingshareholderinthepast(isany) | OnNovember2000,InaccordancewithCaiGuanZi(2008)No.109DocumentofMinistryofFinanceandYueBanHan(2000)No.574DocumentofGeneralOfficeofGuangdongPeople'sGovernment,thestate-ownedsharesofGuangdongExpresswayoriginallyentrustedtoGuangdongExpresswayCompany(nowrenamedas"GuangdongProvincialExpresswayCo.,Ltd.")formanagementweretransferredtoGuangdongCommunicationGroupCo.,Ltd.forholdingandmanagement.Afterthetransferofstate-ownedshares,GuangdongCommunicationGroupCo.,Ltd.becamethelargestshareholderoftheCompany.Thenatureofequitywasdefinedasstate-ownedshares. |
5.OtherRelevantInformationCPAsengaged
NameoftheCPAs | YongTuoCerifiedPublicAccountants(SpecialGeneralPartnership) |
Officeaddress: | 13/F,2Building,No.1NorthStreet,Guandongdian,ChaoyangDistrict,Beijing |
NamesoftheCertifiedPublicAccountantsasthesignatories | ShiShaoyu,HuangZhiyan |
ThesponsorperformingpersistentsupervisiondutiesengagedbytheCompanyinthereportingperiod.
□Applicable√NotapplicableTheFinancialadvisorperformingpersistentsupervisiondutiesengagedbytheCompanyinthereportingperiod
√Applicable□Notapplicable
Name | Officeaddress | Nameofsponsor | Consitentsupervisionperiod |
ChinaInternationalCapitalCorporationLimited | 27-28/F,2Black,No1.GuomaoBuilding,JianguomenWaiStreet,ChaoyangDistrict,Beijing | XieYi,LongHai | 2020-2021 |
6.SummaryofAccountingdataandFinancialindexWhetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata
√Yes□No
2021 | 2020 | ChangesofthisperiodoversameperiodofLastyear(%) | 2019 | |||
Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
Operatingincome(Yuan) | 5,288,057,677.93 | 3,790,348,876.26 | 3,790,348,876.26 | 39.51% | 3,057,935,584.43 | 4,999,016,766.74 |
Netprofitattributabletotheshareholdersofthelistedcompany(Yuan) | 1,700,406,981.99 | 867,842,774.78 | 867,842,774.78 | 95.93% | 1,258,628,101.71 | 1,469,187,067.83 |
Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany(Yuan) | 1,693,091,639.41 | 704,821,643.20 | 704,821,643.20 | 140.22% | 1,249,576,930.75 | 1,249,579,043.32 |
Cashflowgeneratedbybusinessoperation,net(Yuan) | 3,669,744,721.16 | 2,636,187,241.05 | 2,636,187,241.05 | 39.21% | 1,988,551,897.83 | 3,222,681,187.05 |
Basicearningpershare(Yuan/Share) | 0.81 | 0.42 | 0.42 | 92.86% | 0.60 | 0.70 |
Dilutedgainspershare(Yuan/Share) | 0.81 | 0.42 | 0.42 | 92.86% | 0.60 | 0.70 |
WeightedaverageROE(%) | 20.11% | 8.27% | 8.27% | 11.84% | 13.09% | 14.18% |
Endof2021 | Endof2020 | Changedoverlastyear(%) | Endof2019 | |||
Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
Grossassets(Yuan) | 18,875,766,799.31 | 19,748,578,658.11 | 19,748,578,658.11 | -4.42% | 17,674,545,340.78 | 20,666,939,285.90 |
Netassetsattributabletoshareholdersofthelistedcompany(Yuan) | 8,982,437,985.17 | 7,933,136,499.11 | 7,933,136,499.11 | 13.23% | 9,823,426,849.75 | 10,557,360,463.78 |
Retroactiveadjustmentorrestatementofcauses:Mergerofenterprisesunderthesamecontrol
Thelowerofthecompany’snetprofitbeforeandafterthedeductionofnon-recurringgainsandlossesinthelastthreefiscalyearsisnegative,andtheauditor'sreportofthepreviousyearshowsthattheCompany’sgoingconcernabilityisuncertain.
□Yes√NoThelowerofthenetprofitbeforeandafterthedeductionofthenon-recurringgainsandlossesisnegative.
□Yes√No
7.Thedifferencesbetweendomesticandinternationalaccountingstandards
(1).SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.
□Applicable□√NotapplicableNone
(2).DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable√Notapplicable
None
8.MainFinancialIndexbyQuarters
InRMB
Firstquarter | Secondquarter | Thirdquarter | Fourthquarter | |
Operatingincome | 1,257,975,487.27 | 1,230,499,182.54 | 1,485,357,499.71 | 1,314,225,508.41 |
Netprofitattributabletotheshareholdersofthelistedcompany | 399,100,166.26 | 449,760,184.38 | 545,389,653.71 | 306,156,977.64 |
Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany | 395,414,595.12 | 447,328,563.52 | 537,138,406.69 | 313,210,074.08 |
NetCashflowgeneratedbybusinessoperation | 849,020,540.34 | 966,272,676.91 | 1,072,587,838.82 | 781,863,665.09 |
9.Itemsandamountofnon-currentgainsandlosses
√Applicable□Notapplicable
InRMB
Items | Amount(2021) | Amount(2020) | Amount(2019) | Notes |
Non-currentassetdisposalgain/loss(includingthewrite-offpartforwhichassetsimpairmentprovisionismade) | 4,350,214.54 | -8,261,533.18 | 7,607,268.21 | |
Governmentsubsidiesrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies) | 16,348,006.07 | 8,359,291.82 | 87,937.00 | |
Currentnetgainsandlossesoccurredfromperiod-beginto | 546,213,524.55 | 701,856,178.51 |
Items | Amount(2021) | Amount(2020) | Amount(2019) | Notes |
combinationdaybysubsidiariesresultingfrombusinesscombinationundercommoncontrol | ||||
Netamountofnon-operatingincomeandexpenseexcepttheaforesaiditems | -5,840,734.56 | -1,069,827.30 | -1,393,149.65 | |
Othernon-recurringGains/lossitems | 1,252,349.09 | 974,321.89 | 1,652,603.05 | |
Less:Influencedamountofincometax | 4,027,139.54 | 2,214.32 | 1,130,270.54 | |
Influencedamountofminorshareholders’equity(aftertax) | 4,767,353.02 | 383,192,431.88 | 489,072,542.07 | |
Total | 7,315,342.58 | 163,021,131.58 | 219,608,024.51 | -- |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
□Applicable√NotapplicableNoneFortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.
□Applicable√NotapplicableNoneofNon-recurringgain/lossitemsrecorgnizedasrecurringgain/loss/itemsasdefinedbytheinformationdisclosureexplanatoryAnnouncementNo.1-Non–recurringgain/lossinthereportperiod.
III.ManagementDiscussion&AnalysisI.IndustryinformationoftheCompanyduringthereportingperiodTheCompany'smainbusinessistheinvestment,construction,chargingandmaintenancemanagementoftollhighwaysandbridges,whichshallbeclassifiedintothehighwaymanagementandmaintenanceindustry.
Highwayindustryisthebasicandleadingserviceindustryofnationaleconomy,whichcanrationallyallocaterelevantresources,improvethequalityandefficiencyofeconomicoperation,andplayaleadingroleinthetransportationindustry.Asanimportantpartofthehighwayindustry,theexpresswayisanimportantnationalresource,whichischaracterizedbyhighdrivingspeed,largetrafficcapacity,lowtransportationcostandsafedriving,andplaysanimportantroleinpromotingnationaleconomicgrowth,improvingpeople'slivequalityandsafeguardingnationalsecurity.
Withthebasicpenetrationofthe"ten-verticalandten-horizontal"comprehensivetransportationcorridorandthebasiccompletionofthe"71118"nationalexpresswaynetworkplanning,China'sexpresswaynetworkhasbeencontinuouslyextended,withsignificantlyincreasedindustrydevelopment.Accordingtothestatisticaldataofthe2020StatisticalBulletinonDevelopmentofTransportationIndustryissuedbytheMinistryofTransport,bytheendof2020,thetotalmileageofexpresswaysinChinahasreached161,000kilometers,rankingfirstintheworld,withanincreaseof11,400kilometers,andayear-on-yearincreaseof7.62%.WithChina'seconomicdevelopmentsteppingintoanewnormal,thenationaleconomyisconstantlygrowing,thestrategiessuchascoordinateddevelopmentofBeijing-Tianjin-Hebei,regionalintegrationoftheYangtzeRiverDelta,developmentoftheYangtzeRiverEconomicBelt,andGuangdong-HongKong-MacaoGreaterBayAreaconstructionarefurtheradvanced,thewholesociety'sdemandforsupportingservicesofexpresswaysisexpectedtoincreasecontinuously,andChina'sexpresswayindustrystillwitnessesalargedevelopmentpotentialinthefuture.
Asanimportantinfrastructureindustryforthedevelopmentofnationaleconomy,mostoftheexpresswaytransportationdemandsarerigiddemands,whicharelessaffectedbymacroeconomicfluctuationsandlesscyclical.Astheoperatingincomeofexpresswayenterprisesismainlyincash,andthecashflowisabundant,itensuresthestabilityandsecurityofexpresswayindustryoperationandfinance.Whentheeconomyisbooming,therapidgrowthoftrafficcandrivethedevelopmentoftheindustrytoacertainextent;duringtheperiodofeconomicadjustment,theexpresswayindustrycanbetterresistthemarketimpactcausedbymacroeconomicchangeswithitsuniquerigiddemands.II.MainBusinesstheCompanyisEngagedinDuringtheReportPeriodTheCompanyisaninfrastructureindustry,withmainbusinessindevelopingandoperatingexpresswayandbigbridges.ItisoneofthemaininstitutionsofdevelopingexpresswayandbigbridgeinGuangdongExpresswaySystem.Theexpresswayindustryistheindustryhelpedbygovernment.TheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,JingzhuExpresswayGuangzhuSectionandGuanghuiExpresswayinvestmentintechnologicalindustriesandprovisionofrelevantconsultaionwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,GuangzhouGuanghuiExpresswayCo.,Ltd..,GuangdongJiangzhongExpresswayCo.Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnologyPettyLoanCo.,Ltd.,GuangdongGuangleExpresswayCo.,Ltd.,GuoyuanSecuritiesCo.,Ltd,HunanLianzhi
TechnologyCo.,Ltd.andSPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.Asoftheendofthereportingperiod,thecompany’sshare-controlledexpresswayis306.78km,andtheshare-participationexpresswayis295.88km.III.AnalysisOncoreCompetitiveness
Thetollrevenueofexpresswayindustrymainlydependsontheregionaleconomicdevelopment.Theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume.TheGuangfoexpresswayandtheFokaiexpressway,controlledbythecompany,arepartoftheNationalExpresswayNetworkPlanning-“Fiveverticalandsevenhorizontal”,JingzhuExpresswayGuangzhuSectionisafastandconvenientexpressway,GuanghuiExpresswayisanimportantsectionofthenationalkeyhighway-the15thHengshanweitoYunnanQingshuihehighway,Andmanyofthecompany’sequity-participationexpresswaysthatarepartofthemainskeletonoftheGuangdongProvincialExpresswayPlanning-“Tenverticalandfivehorizontal”,whichprovidesastrongguaranteeforstabletrafficvolume.Meanwhile,theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume,asGuangdongprovinceistheeconomicallydevelopedregion,withyears’continuoushighgrowthofGDP,sothatprovidesthestablerisingdemandforthecompany.IV.MainbusinessanalysisⅠ.GeneralTheyearof2021isthefirstyearofthe14thFive-YearDevelopmentPlan,duringwhichtheCompanyfocusesonkeytasks,promotesthenormalizationofepidemicpreventionandcontrol,operationandproductionasawhole,successfullycompletesitsannualworkobjectives,andmaintainsandincreasesthevalueofstate-ownedassetsby120.04%.
(1)Ithaspromotedcomprehensivelydeepeningofthereformofstate-ownedenterprises.TheCompanywillcarefullycombinetheworld-classmanagementpromotionactionwiththethree-yearactionofstate-ownedenterprisereform,comprehensivelydeepenthestate-ownedenterprisereform,andactivelywellensurerelatedwork.BytheendofDecember2021,mosttaskshadbeencompleted,exceedingthetargetrequirement.
(2)TheverificationofthechargingperiodforthereconstructionandexpansionofthesouthsectionofFoshan-KaipingExpresswayhasbeencompleted.InJune2021,thereconstructionandexpansionprojectofSanbao-ShuikousectionofFoshan-KaipingExpresswaywasapprovedbyGuangdongProvincialPeople'sGovernment,andtheapprovedchargingperiodoftheprojectis24.6011years,whichlaidasolidfoundationfortheCompany'ssustainabledevelopment.
(3)Thepreliminaryworkoffive-expresswayreconstructionandexpansionhasbeencarriedout:ithassuccessfullycompletedtheinvestmentdecision-makingprocedureofthereconstructionandexpansionprojectofJiangmen-ZhongshanExpressway,aprovincialkeyconstructionprojectoftheCompany'scapitalincrease.Ithasgonethroughtheformalitiesofshareholders'capitalcontributionintimeaccordingtotheprogressoftheprojecttoensurethedemandofreconstructionandexpansionprojectconstructionfunds;continuedtofollowupthepreliminaryresearchworkofreconstructionandexpansionprojectinGuangdong-Zhaoqing,EastGuangzhou-ZhuhaiandGuangzhou-Huizhouexpressways;andassistedintheregulationandestimation,periodaudit,investmentandfinancingplanpreparationoftheprojectofHuizhou-ShenzhenExpresswayreconstructionandexpansion.
(4)Itpreparesthe"14thFive-YearPlan"inhighquality,clarifiestheCompanyasthecapitaloperationplatformthatfocusesonservingthetransformationandupgradingoftheexpresswaytransportationindustryin
GuangdongProvince,withcultivationandintegrationofnewindustriessuchasroadindustryandsmarttransportationindustryinGuangdongProvinceasthedevelopmentdirection,continuouslyexpandsandupgradesthescaleofthemainexpresswaybusiness;improvesindustrialbasicabilityandprofitability;cultivatestheabilityofindependentinnovation;activelylaysoutthesmarttransportationindustry;carriesoutintelligentupgradingaroundtheexpressway;adherestothetwo-wheeldriveofscientificandtechnologicaltransformationandcapitaloperation,andcontinuestopromotethecapitaloperationoflistedcompaniesincombinationwithprovincialtransportationplanning,soastomaketheCompanybetter,strongerandbigger.
(5)ItparticipatesinthedevelopmentstrategyofgreenpowertransportationinStatePowerInvestmentCorporation(SPIC),andbuildsatechnicalserviceplatformforheavytruckwithreplaceablebatterybyinvestinginSPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.throughitswholly-ownedsubsidiaryYuegaoCapital.In2020,thecompany'srevenuewasgreatlyreducedbytheNewCoronavirusepidemic..In2021,thenumberoftolldaysthecompanyparticipatedintheholdingexpresswayincreasedYOY.ThetollrevenueofeachexpresswayincreasedoftheCompanyareasfollows:
Volumeofvehicletrafficin2021(Tenthousandsvehicles) | Increase/Decrease(%) | Tollincomein2021(Tenthousands) | Increase/Decrease(%) | |
GuangfoExpressway | 7,928.27 | 9.06% | 44,885.46 | 36.14% |
FokaiExpressway | 8,574.49 | 11.09% | 145,437.73 | 51.26% |
JingzhuExpresswayGuangzhuEastSection | 7,165.82 | 15.77% | 114,088.10 | 45.82% |
GuanghuiExpressway | 8,295.24 | 10.79% | 212,619.92 | 33.53% |
HuiyanExpressway | 5,175.24 | 18.98% | 24,037.38 | 29.28% |
GuangzhaoExpressway | 3,813.00 | 31.84% | 53,568.64 | 22.97% |
JiangzhongExpressway | 6,710.69 | 10.09% | 47,663.06 | 40.74% |
KangdaExpressway | 145.57 | -1.52% | 31,287.88 | 47.65% |
GankangExpressway | 460.81 | 4.62% | 19,905.23 | 55.10% |
GuangleExpressway | 3,926.49 | 13.24% | 335,608.32 | 35.10% |
Onthewhole,theoveralltrendoftrafficflowandtollincomeofeachholdingsectionisgood.Comparedwiththedatabeforetheoutbreak,themainonesthathaveachievedsignificantgrowthareFokaiExpresswayandGuanghuiexpressway,amongwhich:
(1)Foshan-KaipingExpresswayisaffectedbythefullyopeningtotrafficofKaiping–YangjiangExpressway,whichisconnectedwithit.Whileleadingtoimprovedtrafficcapacityofthemainroadsurfaceandtrafficbackflow,italsoincreasesnewtrafficflows,andgreatlyincreasestollincome.
(2)DuetotheopeningofHuadu-DongguanExpresswayonNovember1,2020andHeyuan-Huizhou-DongguanExpresswayonDecember28,2020,thetrafficflowisattractedtoGuanghuiexpressway,forminganewtrafficflow.
2.Revenueandcost
(1)ComponentofBusinessIncome
InRMB
2021 | 2020 | Increase/decrease |
Amount | Proportion | Amount | Proportion | ||
Totaloperatingrevenue | 5,288,057,677.93 | 100% | 3,790,348,876.26 | 100% | 39.51% |
Industry | |||||
Highwaytransportations | 5,170,312,170.97 | 97.77% | 3,665,926,709.10 | 96.72% | 41.04% |
Other | 117,745,506.96 | 2.23% | 124,422,167.16 | 3.28% | -5.37% |
Product | |||||
Highwaytransportations | 5,170,312,170.97 | 97.77% | 3,665,926,709.10 | 96.72% | 41.04% |
Other | 117,745,506.96 | 2.23% | 124,422,167.16 | 3.28% | -5.37% |
Area | |||||
GuangfoExpressway | 448,854,642.12 | 8.49% | 329,710,947.81 | 8.70% | 36.14% |
FokaiExpressway | 1,454,377,306.80 | 27.50% | 961,484,310.59 | 25.37% | 51.26% |
JingzhuExpresswayGuangzhuSection | 1,140,880,993.81 | 21.57% | 782,378,756.64 | 20.64% | 45.82% |
GuanghuiExpressway | 2,126,199,228.24 | 40.21% | 1,592,352,694.06 | 42.01% | 33.53% |
Other | 117,745,506.96 | 2.23% | 124,422,167.16 | 3.28% | -5.37% |
Sub-salesmodel | |||||
Highwaytransportations | 5,170,312,170.97 | 97.77% | 3,665,926,709.10 | 96.72% | 41.04% |
Other | 117,745,506.96 | 2.23% | 124,422,167.16 | 3.28% | -5.37% |
(2)SituationofIndustry,ProductandDistrictOccupyingtheCompany’sBusinessIncomeandOperatingProfitwithProfitover10%
√Applicable□Notapplicable
InRMB
Turnover | Operationcost | Grossprofitrate(%) | Increase/decreaseofrevenueinthesameperiodofthepreviousyear(%) | Increase/decreaseofbusinesscostoverthesameperiodofpreviousyear(%) | Increase/decreaseofgrossprofitrateoverthesameperiodofthepreviousyear(%) | |
Industry | ||||||
Highwaytransportations | 5,170,312,170.97 | 1,874,469,918.22 | 63.75% | 41.04% | 18.19% | 7.01% |
Turnover | Operationcost | Grossprofitrate(%) | Increase/decreaseofrevenueinthesameperiodofthepreviousyear(%) | Increase/decreaseofbusinesscostoverthesameperiodofpreviousyear(%) | Increase/decreaseofgrossprofitrateoverthesameperiodofthepreviousyear(%) | |
Product | ||||||
Highwaytransportations | 5,170,312,170.97 | 1,874,469,918.22 | 63.75% | 41.04% | 18.19% | 7.01% |
Area | ||||||
GuangfoExpressway | 448,854,642.12 | 145,962,137.59 | 67.48% | 36.14% | 29.41% | 1.69% |
FokaiExpressway | 1,454,377,306.80 | 714,045,421.17 | 50.90% | 51.26% | 9.78% | 18.55% |
JingzhuExpresswayGuangzhuSection | 1,140,880,993.81 | 370,994,383.00 | 67.48% | 45.82% | 32.55% | 3.25% |
GuanghuiExpressway | 2,126,199,228.24 | 643,467,976.46 | 69.74% | 33.53% | 18.54% | 3.83% |
Sub-salesmodel | ||||||
Highwaytransportations | 5,170,312,170.97 | 1,874,469,918.22 | 63.75% | 41.04% | 18.19% | 7.01% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestonyear’sscopeofperiod-end.
□Applicable√Notapplicable
(3)WhethertheCompany’sPhysicalSalesIncomeExceededServiceIncome
□Yes√No
(4)DegreeofPerformanceoftheSignificantSalesContractSigneduptothisReportPeriod
□Applicable√Notapplicable
(5)ComponentofbusinesscostIndustrycategory
InRMB
Industrycategory | Items | 2021 | 2020 | Increase/Decrease(%) | ||
Amount | Proportionintheoperatingcosts(%) | Amount | Proportionintheoperatingcosts(%) | |||
Highway | Depreciation | 1,257,315,758.33 | 65.16% | 1,020,703,974.74 | 61.41% | 23.18% |
transportations | andAmortized | |||||
Highwaytransportations | Outofpocketexpenses | 617,154,159.89 | 31.99% | 565,222,471.74 | 34.00% | 9.19% |
Other | Other | 55,042,107.34 | 2.85% | 76,297,249.65 | 4.59% | -27.86% |
(6)WhetherChangesOccurredinConsolidationScopeintheReportPeriod
□Yes√No
(7)RelevantSituationofSignificantChangesorAdjustmentoftheBusiness,ProductorServiceintheCompany’sReportPeriod
□Applicable√Notapplicable
(8)SituationofMainCustomersandMainSupplier
□Applicable√Notapplicable
3.Expenses
InRMB
2021 | 2020 | Increase/Decrease(%) | Notes | |
Administrativeexpenses | 223,605,442.46 | 203,945,119.58 | 9.64% | |
Financialexpenses | 221,714,312.76 | 216,182,374.88 | 2.56% | |
R&Dexpenses | 13,270,938.73 | 404,303.70 | 3,182.42% | In2021,theR&Dinvestmenthasbeenincreased,andnewR&Dprojectshavebeenadded,suchas"ResearchonBridgeSafetyMonitoringandApplicationBasedonBeidouSystem","ApplicationofMonitoringSystemforOperationalSafetyClusterofJiujiangBridgeinFoshan-KaipingExpresswayExpansion","All-weatherIntelligentMonitoringandR&DProjectforKeyRoadSectionsofFoshan-KaipingExpressway","ResearchonTrafficGuidanceofLargeFlowin2021","TrafficSimulationPlatform","BigDataProjection"and"SmartPartyBuildingCloudPlatform". |
4.ResearchandDevelopment
√Applicable□Notapplicable
NameofmainR&Dproject | Projectpurpose | Projectprogress | Goaltobeachieved | ExpectedimpactonthefuturedevelopmentoftheCompany |
ResearchonBridgeSafetyMonitoringandApplicationBasedonBeidouSystem | Carryoutreal-timemonitoringofstructuralmechanicsindexessuchasdeflection,stressanddisplacement,perceiveandevaluatetheemergenciesofexpresswaybridgesquickly,accuratelyandeffectively | Completed | Formanintelligentmonitoringandearlywarningsystemofexpresswaybridgeswith"all-factorperception,all-roundserviceandall-servicemanagement" | Realizetheperception,digitization,networkingandintelligenceofthewholelifecycleofbridges |
ResearchonEarlyWarningandSafetyMonitoringSystemforShipCollisionofJiujiangExtra-largeBridge | Carryoutresearchandexplorationontechnicalresearch,equipmentdevelopmentandstandardformulationofactiveearlywarningmeasuresforbridgeshipcollision. | Completed | Developearlywarningtechnologyofshipyawpreventionbasedonvideoimagemonitoringtechnologyandradartechnology | Realizetheearlywarningoftheaccidentmayoccurbyshipcollidingwiththebridge,effectivelypreventtheoccurrenceofmajorcatastrophicpublicsafetyaccidentsofbridgecollapse,andensurethesafeandstableoperationoftheexpressway. |
All-weatherIntelligentMonitoring | Thisprojectistheimplementationof"DoubleOutline"and"NewInfrastructureGuidingOpinions",whichwillprovideimportant | Completed | Graspthecomprehensiveroadnetworkdatainformationinrealtimethroughthedigitalandintelligentconstructionof | Improvetheoperationalefficiencyofexpresswaysandtheleveloftransportationsafety,promotethe |
NameofmainR&Dproject | Projectpurpose | Projectprogress | Goaltobeachieved | ExpectedimpactonthefuturedevelopmentoftheCompany |
andR&DProjectforKeyRoadSectionsofFoshan-KaipingExpressway | demonstrationandreferencefortheintelligentdevelopmentofhighwaytraffic,especiallyforintelligentdevelopmentofexpresswaysandpromotionofsmarthighwayapplications. | existingfacilities. | demonstrationandapplicationofsmarthighways,andbuildupdemonstrationsitesforsmarthighwayswith“advancedtechnology,moderatecost,andfirst-classlevelinChina”. | |
ResearchonTrafficGuidanceofLargeFlow | Realizethepracticality,precisionandautomationofinducedinformation,andgraduallyreplacethecurrentsituationoftraditionalinducedinformation,suchasimmobilization,sloganandmanualreleasebyusingthebuiltcloud-controlledbigdataall-in-onemachineandintelligentpublishingplatform.StrengthentheroadmonitoringmeansofGuangzhou-FoshanExpresswaybybuildingaroadincidentdetectionsystem,realizetheactivemarkingabilityofhigh-speedsections,andimprovetheresponseandhandlingabilitytoroadincidents. | Completed | Realizetherapidperceptionanddisposalofroadincidentsthroughtheconstructionofroadincidentdetectionsystem;improvetheintelligentizationofvariableinformationsignterminalthroughthetechnicaldockingofintelligentflowcontrolandintelligentpublishingplatformgateway;andrealizeintegrateddisplayoftrafficstatus,visualperception,intelligentflowcontrolandotherapplicationsforlarge-screenvisualdisplaysystem. | Itcanimprovethecoordinationandmanagementefficiencyofexpresswayresources,speeduptheaccidenthandlingspeed,andplayanimportantroleinreducingtrafficdelaysandeconomiclossesandcasualtiescausedbytrafficaccidents.Itcanwhollyimprovethemanagementandcontrolofroadtrafficandservicelevelbytheowner. |
NameofmainR&Dproject | Projectpurpose | Projectprogress | Goaltobeachieved | ExpectedimpactonthefuturedevelopmentoftheCompany |
TrafficSimulationPlatform | Realizeoff-linemonitoringandanalysisofexpresswaytrafficflow,speed,occupancyrateandcongestionmileagethroughtheinitialconstructionbyintegratingmulti-sourcedatasuchasexpresswayRSUdata,tollstationdataandroadconditioninformation.Realizetheanalysisandbacktrackingofhigh-speedtrafficflowsources,customergroups,customercomposition,trafficflowcharacteristicsandtrafficflowcharacteristicsofkeyholidays. | Initiallyrealizetheoff-linemonitoringandanalysisofthetrafficflow,speed,occupancyrateandcongestionmileageoftheexpresswaythroughtheobtained(three-month)expresswaytrafficdata.Buildatrafficsimulationmodelof15.7kmforGuangzhou-FoshanExpressway.Thesoftwaredevelopmentandcopyrightapplicationhasbeencompleted. | Buildatrafficsimulationmodelof50-100kmforhigh-speedandsurroundingroadsbasedonthecollectedhistoricaltrafficflowdataandcombinedwiththecurrentmainstreammacroandmicrotrafficsimulationsoftware,andmaketheoff-linequantitativeevaluationandanalysisofcommonemergencytrafficorganizationschemes,soastoprovidequantitativedecision-makingbasisforthefeasibilityanalysisofrelevanttrafficorganizationmanagementandguidancemeasures. | Inthefieldofhighwayintelligenttransformationandconstruction,thesimulationanalysissystembasedontrafficflowcharacteristicscanbeeffectivelycombinedwithhigh-speedmonitoring,informationreleaseguidance,trafficmanagementandothersystems,andithasbecomeanimportanttechnologyfortheCompany'shigh-speedintelligenttransformationbusiness. |
BigDataProjection | Buildalarge-screenvisualdisplaysystemtorealizetheintegrateddisplayoftrafficstatus,visualperception,intelligentflowcontrolandotherapplications.Havetheabilityofmacro-monitoringalldataofexpressway. | Allfunctionsoftheprojecthavebeendeveloped,deployed,debuggedandapplied. | Playanimportantroleinimprovingthecoordinationandmanagementefficiencyofexpresswayresources,speedingupthehandlingofaccidentsandreducingtrafficdelaysandeconomiclossesandcasualtiescausedbytrafficaccidents.Improvethemanagementandcontrolofroadtrafficandtheserviceleveloftheowneroverall. | Themulti-angleinformationdisplayofexpresswayinformationthroughbigdataprojectionscreenisbeneficialtothepromotionoftheCompany'sexpresswayinformationintegrationbusiness. |
NameofmainR&Dproject | Projectpurpose | Projectprogress | Goaltobeachieved | ExpectedimpactonthefuturedevelopmentoftheCompany |
SmartPartyBuildingCloudPlatform | Withbigdataasthecore,thesmartpartybuildingcloudplatformhassimultaneouslydevelopedPCportalwebsite,WeChatofficialaccount,partybuildingportalmanagementbackend,partybuildingbigdataandmanagementcloudplatform,providingthegroupandgrass-rootspartyorganizationswithanintegratedmanagementplatformforinternetpluspartybuilding,whichintegratesfivemajorbusinesses,namelypartybuildingpublicity,partymembers'learningandeducation,partybuildingactivities,partyaffairsmanagementanddatasupervision,andrealizesfullcoverageofpartyaffairsbusinessandinterconnectionamonggrass-rootspartyorganizations. | Allfunctionsoftheprojecthavebeendeveloped,deployed,debuggedandapplied. | Grass-rootspartymemberscanmakefulluseoffragmentedtimethroughmobilephoneterminal,tocommunicateanddiscussthroughthestudysectionanytimeandanywhere,whichrealizesthebreakthroughofthelearningandeducationformofpartybuilding"fromtraditionaltomodern,fromclosedtoopen,fromentitytovirtual".Meanwhile,thetraditionaltediousdailymanagementworkissimplifiedandintegrated,thepartyworkflowisoptimized,andtheefficiencyandqualityofpartyworkareimproved. | Centeredonthein-depthexplorationandresearchonthesmartpartybuildingcloudplatform,withtheInternet+partyintegratedmanagementsolutionwhichintegratesthepublicity,education,service,management,andsupervision,andthushavinghighconstructionnecessityandmarketdemand. |
Company'sresearchanddevelopmentpersonnelsituation
2021 | 2020 | Increase/decrease | |
NumberofResearchandDevelopmentpersons(persons) | 12 | 2 | 500.00% |
ProportionofResearchandDevelopmentpersons | 0.40% | 0.07% | 0.33% |
AcademicstructureofR&Dpersonnel | —— | —— | —— |
Bachelor | 11 | 2 | 450.00% |
Master | 1 | ||
AgecompositionofR&Dpersonnel | —— | —— | —— |
Under30yearsold | 1 | ||
30-40yearsold | 9 | ||
Over40yearsold | 2 | 2 | 0.00% |
TheCompany'sR&Dinvestmentsituation
2021 | 2020 | Increase/decrease | |
AmountofResearchandDevelopmentInvestment(InRMB) | 13,974,899.53 | 404,303.70 | 3,356.54% |
ProportionofResearchandDevelopmentInvestmentofOperationRevenue | 0.26% | 0.01% | 0.25% |
AmountofResearchandDevelopmentInvestmentCapitalization(InRMB) | 703,960.80 | 0.00 | |
ProportionofCapitalizationResearchandDevelopmentInvestmentofResearchandDevelopmentInvestment | 5.04% | 0.00% | 5.04% |
ReasonsandinfluenceofsignificantchangesinR&DpersonnelcompositionoftheCompany
□Applicable√NotapplicableTheReasonoftheProminentChangeinTotalAmountofResearchandDevelopmentInputOccupyingtheBusinessIncomeYearonYear
√Applicable□Notapplicable
In2021,theR&Dinvestmenthasbeenincreased,andnewR&Dprojectshavebeenadded,suchas"ResearchonBridgeSafetyMonitoringandApplicationBasedonBeidouSystem","ApplicationofMonitoringSystemforOperationalSafetyClusterofJiujiangBridgeinFoshan-KaipingExpresswayExpansion","All-weatherIntelligentMonitoringandR&DProjectforKeyRoadSectionsofFoshan-KaipingExpressway","ResearchonTrafficGuidanceofLargeFlowin2021","TrafficSimulationPlatform","BigDataProjection"and"SmartPartyBuildingCloudPlatform".ReasonsforthedrasticchangeofcapitalizationrateofR&Dinvestmentanditsrationalityexplanation
√Applicable□Notapplicable
In2021,theR&Dinvestmenthasbeenincreased,andnewR&Dprojectshavebeenadded,suchas"ResearchonBridgeSafetyMonitoringandApplicationBasedonBeidouSystem","ApplicationofMonitoringSystemforOperationalSafetyClusterofJiujiangBridgeinFoshan-KaipingExpresswayExpansion","All-weatherIntelligentMonitoringandR&DProjectforKeyRoadSectionsofFoshan-KaipingExpressway","ResearchonTrafficGuidanceofLargeFlowin2021","TrafficSimulationPlatform","BigDataProjection"and"SmartPartyBuildingCloudPlatform".
5.CashFlow
InRMB
Items | 2021 | 2020 | Increase/Decrease(%) |
Subtotalofcashinflowreceivedfromoperationactivities | 5,574,328,005.11 | 4,051,493,610.08 | 37.59% |
Subtotalofcashoutflowreceivedfromoperationactivities | 1,904,583,283.95 | 1,415,306,369.03 | 34.57% |
Netcashflowarisingfromoperatingactivities | 3,669,744,721.16 | 2,636,187,241.05 | 39.21% |
Subtotalofcashinflowreceivedfrominvestingactivities | 224,528,598.74 | 372,548,657.83 | -39.73% |
Subtotalofcashoutflowforinvestmentactivities | 648,313,936.74 | 884,922,836.28 | -26.74% |
Netcashflowarisingfrominvestmentactivities | -423,785,338.00 | -512,374,178.45 | -17.29% |
Subtotalcashinflowreceivedfromfinancingactivities | 2,265,075,195.50 | 2,258,963,500.00 | 0.27% |
Subtotalcashoutflowforfinancingactivities | 5,401,656,857.26 | 4,591,305,613.77 | 17.65% |
Netcashflowarisingfromfinancingactivities | -3,136,581,661.76 | -2,332,342,113.77 | 34.48% |
Netincreaseincashandcashequivalents | 109,006,386.66 | -206,800,360.26 | 152.71% |
Notestotheyear-on-yearchangeoftherelevantdata
√Applicable□Notapplicable
DuetotheoutbreakoftheCOVID-19in2020,thenationalhighwaytollrevenuewillbeexempted.In2021,thenumberofdaysforcompaniestochargeonvariousroadsectionsincreasescomparedwiththesameperiodofthepreviousyear,thetollrevenueincreases,andthecashinflowfromoperatingactivitiesincreases.Theincreaseofprofitsleadstotheincreaseoftaxesandfees,andtheincreaseofcashoutflowfromoperatingactivities.ReasonsofmajordifferencebetweenthecashflowofoperationactivityinreportperiodandnetprofitoftheCompany
√Applicable□Notapplicable
InRMB
I.Adjustingnetprofittocashflowfromoperatingactivities | 2021 |
Netprofit | 2,426,784,700.28 |
Add:Creditlossprovision | 1,935,337.47 |
Impairmentlossprovisionofassets | 2,889,394.16 |
Depreciationoffixedassets,oilandgasassetsandconsumablebiologicalassets | 1,229,561,027.39 |
Depreciationoftheuserightassets | 9,914,956.52 |
Amortizationofintangibleassets | 36,587,254.42 |
AmortizationofLong-termdeferredexpenses | 350,625.00 |
Lossondisposaloffixedassets,intangibleassetsandotherlong-termdeferredassets | -3,017,370.44 |
Fixedassetsscraploss | 381,538.83 |
I.Adjustingnetprofittocashflowfromoperatingactivities | 2021 |
Financialcost | 283,024,964.67 |
Lossoninvestment | -277,061,254.36 |
Decreaseofdeferredincometaxassets | 105,511,533.12 |
Increasedofdeferredincometaxliabilities | -71,180,773.10 |
Decreaseofinventories | -586,318.60 |
Deceaseofoperatingreceivables | 8,323,698.17 |
IncreasedofoperatingPayable | -83,674,592.37 |
Netcashflowsarisingfromoperatingactivities | 3,669,744,721.16 |
V.AnalysisofNon-coreBusiness
√Applicable□Notapplicable
InRMB
Amount | Proportionintotalprofit | Explanationofcause | Sustainable(yesorno) | |
InvestmentIncome | 277,061,254.36 | 8.76% | Itisduetotheoperationaccumulationofparticipantcompanies | Sustainable |
Assetimpairment | -2,889,394.16 | -0.09% | FokaiCompanyaccruedimpairmentreserveforfixedassets | Notsustainable |
Non-operatingincome | 17,975,495.18 | 0.57% | Mainlyinsuranceclaims,roadpropertyclaimsandDemolitioncompensationincome | Notsustainable |
Non-operatingexpenses | 22,483,385.64 | 0.71% | MainlyroadpropertyrepairexpensesandLossofnon-currentassets | Notsustainable |
Incomefromassetdisposal | 3,017,370.44 | 0.10% | MainlythegainsfromfixedassetdisposalofEastGuangzhou-ZhuhaiCompany | Notsustainable |
Creditimpairmentloss | -1,935,337.47 | -0.06% | Provisionforimpairmentofotherreceivables | Notsustainable |
VI.ConditionofAssetandLiabilities
1.ConditionofAssetCausingSignificantChange
InRMB
Endof2021 | Endof2020 | Proportionincrease/decrease | Notestothesignificantchange | |||
Amount | Proportioninthetotalassets(%) | Amount | Proportioninthetotalassets(%) | |||
Monetaryfund | 2,956,404,390.55 | 15.66% | 2,847,398,003.89 | 14.40% | 1.26% | |
Accountsreceivable | 159,053,399.87 | 0.84% | 168,907,517.56 | 0.85% | -0.01% | |
Contractassets | 5,286,462.45 | 0.03% | 5,452,813.90 | 0.03% | 0.00% | |
Inventories | 640,079.66 | 0.00% | 53,761.06 | 0.00% | 0.00% | |
Investmentrealestate | 2,889,263.41 | 0.02% | 3,110,381.89 | 0.02% | 0.00% | |
Long-termequityinvestment | 2,627,130,681.24 | 13.92% | 2,382,927,355.64 | 12.05% | 1.87% | |
Fixedassets | 10,639,272,192.02 | 56.36% | 11,540,075,929.69 | 58.37% | -2.01% | |
Constructioninprocess | 351,130,455.06 | 1.86% | 340,611,095.47 | 1.72% | 0.14% | |
Userightassets | 14,100,325.01 | 0.07% | 23,154,055.78 | 0.12% | -0.05% | |
Shore-termloans | 0.00 | 0.00% | 200,192,500.00 | 1.01% | -1.01% | |
Contractliabilities | 22,000.00 | 0.00% | 309,734.51 | 0.00% | 0.00% | |
Long-termborrowing | 4,572,621,200.00 | 24.22% | 4,977,438,800.00 | 25.18% | -0.96% | |
Leaseliabilities | 2,773,459.76 | 0.01% | 12,245,214.89 | 0.06% | -0.05% |
Overseasassetsaccountforarelativelyhighproportion.
□Applicable√Notapplicable
2.AssetandLiabilitiesMeasuredbyFairValue
√Applicable□Notapplicable
Items | Openingamount | Gain/Lossonfairvaluechangeinthereportingperiod | Cumulativefairvaluechangerecordedintoequity | Impairmentprovisionsinthereportingperiod | Purchasedamountinthereportingperiod | Soldamountinthereportingperiod | Otherchanges | Closingamount |
Financialassets | ||||||||
4.Otherequityinstrumentinvestment | 1,737,015,528.29 | 263,485,537.28 | 1,577,175,826.05 | |||||
Subtotaloffinancialassets | 1,737,015,528.29 | 263,485,537.28 | 1,577,175,826.05 | |||||
Totaloftheabove | 1,737,015,528.29 | 263,485,537.28 | 1,577,175,826.05 | |||||
Financialliabilities | 0.00 | 0.00 | 0.00 |
OtherchangeDidanysignificantchangeoccurtotheattributeoftheCompany’smainassetmeasurementduringthereportingperiod?
□Yes√No
3.AssetsrightrestrictiontillendofreportingperiodThebalanceofrestrictedbankdepositsattheendoftheperiodwasRMB1,221,200.00,whichwasthelandreclamationfunddepositedintothefundcustodyaccountforthereconstructionandexpansionprojectofsanbaotoshuikousectionofFokaiExpressway.VII.Investmentsituation
1.General
√Applicable□Notapplicable
InvestmentAmountin2021(Yuan) | InvestmentAmountin2020(Yuan) | Changerate |
134,650,000.00 | 2,703,460,018.24 | -95.02% |
2.ConditionofAcquiringSignificantShareRightInvestmentduringtheReportPeriod
√Applicable□Notapplicable
InRMB
NameoftheCompanyInvested | MainBusiness | InvestmentWay | InvestmentAmount | ShareProportion% | CapitalSource | Partner | InvestmentHorizon | ProductType | ProgressuptoBalanceSheetDate | AnticipatedIncome | GainorLessortheCurrentInvestment | WhethertoInvolveinLawsuit | DateofDisclosure | DisclosureIndex |
GuangdongJiangzhongExpresswayCo.,Ltd. | Expressway | Increasecapital | 133,650,000.00 | 15.00% | Selffund | Xinyue(Guangzhou)InvestmentCo.,Ltd.,GuangdongHighwayConstructionCo.,Ltd. | Onthebasisofthetermofoperationapprovedbythegovernment | LimitedCompany | Completed | No | July31,2021 | AnnouncementofResolutionsofthe20th(Provisional)MeetingoftheNinthBoardofDirectors,RelatedtransactionAnnouncement | ||
Total | -- | -- | 133,650,000.00 | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | -- | -- | -- |
3.SituationoftheSignificantNon-equityInvestmentUndergoingintheReportPeriod
□Applicable√Notapplicable
4.InvestmentofFinancialAsset
(1)Securitiesinvestment
√Applicable□Notapplicable
InRMB
Securitycategory | Securitycode | StockAbbreviation: | Initialinvestmentcost | Modeofaccountingmeasurement | Bookvaluebalanceatthebeginningofthereportingperiod | Changesinfairvalueofthethisperiod | Cumulativefairvaluechangesinequity | Purchaseamountinthethisperiod | Saleamountinthethisperiod | Gain/lossofthereportingperiod | Bookvaluebalanceattheendofthereportingperiod | Accountingitems | Sourcesoffunds |
Domesticandforeignstocks | 601818 | EverbrightBank | 517,560,876.80 | FVM | 938,667,226.56 | 0.00 | 263,485,537.28 | 0.00 | 0.00 | 49,403,538.24 | 781,046,414.08 | Otherequityinstrumentinvestment | Self |
Total | 517,560,876.80 | -- | 938,667,226.56 | 0.00 | 263,485,537.28 | 0.00 | 0.00 | 49,403,538.24 | 781,046,414.08 | -- | -- | ||
DisclosureDateofAnnouncementonSecuritiesInvestmentApprovedbytheBoardofDirectors | July22,2009 | ||||||||||||
DisclosureDateofAnnouncementonSecuritiesInvestmentApprovedbytheShareholdersMeeting(Ifany) | August7,2009 |
(2)InvestmentinDerivatives
□Applicable√NotapplicableTheCompanyhadnoinvestmentinderivativesinthereportingperiod.
5.Applicationoftheraisedcapital
□Applicable√NotapplicableTheCompanyhadnoapplicationoftheraisedcapitalinthereportingperiod.VIII.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.Salesofmajorequity
□Applicable√Notapplicable
IX.AnalysisoftheMainShareHoldingCompaniesandShareParticipatingCompanies
√Applicable□NotapplicableSituationofMainSubsidiariesandtheJoint-stockCompanywithover10%netprofitinfluencingtotheCompany
InRMB
CompanyName | Companytype | Leadingproductsandservices | Registeredcapital | Totalassets | Netassets | OperatingIncome | Operatingprofit | NetProfit |
GuangfoExpressway | Subsidiary | OperatingGuangfoExpresswayCo.,Ltd.(startsfromHengsha,Guangzhou,endsinXiebian,Foshan.Totallength15.7kilometers | RMB200million | 557,444,986.51 | 525,258,828.06 | 452,189,259.01 | 285,008,760.76 | 216,784,938.57 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | Subsidiary | TheoperationandmanagementofGuangzhuExpresswayandprovisionofsupportingservicesincludingfueling,salvageandsupplyofpartsandcomponents | RMB580million | 2,245,637,507.19 | 1,162,701,542.28 | 1,173,205,770.48 | 690,615,701.91 | 510,059,420.32 |
GuangdongGuanghuiExpresswayCo.,Ltd. | Sharingcompany | InvestmentinandconstructionofGuanghuiExpresswayCo.,Ltd.andsupportingfacilities,thetollcollectionandmaintenancemanagementofGuanghuiExpressway,TheGuanghuiExpressway'ssupportinggasstation,salvation,vehiclemaintenance,vehicletransport,catering,warehousinginvestmentanddevelopment | RMB2.352million | 4,307,118,539.25 | 3,911,349,143.60 | 2,153,255,526.58 | 1,492,003,731.61 | 1,111,564,548.10 |
Subsidiariesobtainedordisposedinthereportingperiod
□Applicable√NotapplicableParticularsabouttheMutualholdingcompanies
1.GuangfoExpresswayCo.,Ltd.(theCompanyholds75%equity)buildsandoperatesGuangfoExpressway,anditsoperationandmanagementincludesroadmaintenance,tollcollection,maintenanceoftrafficfacilitiessuchassignsandmarkings,andvehiclerescue.ThenetprofitofthecurrentperiodincreasedbyRMB
61.7527millionyearonyear,or39.83%.ThemainreasonfortheincreasewasthatthetollexemptionpolicyfortheCOVID-19epidemicin2020.Thereisnosuchimpactinthisperiod,withincreaseintolldays,tollincomeandoperatingincome,operatingprofitandyear-on-yearincreaseinnetprofit.
2.JingzhuExpresswayGuangzhuSectionCo.,Ltd.(thecompanyholds75%equity)operatesGuangzhou-ZhuhaiExpresswayandprovidesthesupportingrefueling,rescueandsparepartssupplyservicesofexpressway.ThenetprofitofthecurrentperiodincreasedbyRMB208.3206millionyear-on-year,or69.04%.Themainreasonforthedecreasewasthatthetollrevenuedecreasedduetothetoll-freepolicyofCOVID-19epidemic.Thereisnosuchimpactinthisperiod,withincreaseintolldays,tollincomeandoperatingincome,operatingprofitandyear-on-yearincreaseinnetprofit.
3.GuangdongGuanghuiExpresswayCo.,Ltd.(thecompanyholds51%equity)investsinandbuildsGuanghuiExpresswayandsupportingfacilities;TollcollectionandmaintenancemanagementofGuanghuiExpressway;Investmentanddevelopmentofgasstations,rescue,automobilemaintenance,automobiletransportation,cateringandwarehousingforGuanghuiExpressway.ThenetprofitofthecurrentperiodincreasedbyRMB331.2595millionyear-on-year,or42.45%.Themainreasonforthedecreasewasthatthetollrevenuedecreasedduetothetoll-freepolicyofCOVID-19epidemic.Thereisnosuchimpactinthisperiod,withincreaseintolldays,tollincomeandoperatingincome,operatingprofitandyear-on-yearincreaseinnetprofit.
X.Structuredsubjectsituationcontrolledbythecompany
□Applicable√NotapplicableXI.ProspectforfuturedevelopmentoftheCompany
In2022,theCompanywillcontinuetostrengthenitsconfidenceinreformanddevelopment,constantlystrengthenitsstrategicthinking,andstrivetoimproveitscorporategovernanceanddevelopmentcapabilities,promotethetransformationandupgradingofenterprises,enhanceitsanti-riskabilityandlayasolidfoundationforthesteadydevelopmentofenterprisesaccordingtotheworld-classmanagementandthree-yearactionofstate-ownedenterprisereform.Theoverallgoalof2022istoachieveanoperatingrevenueof5.011billionyuanandcontroltheoperatingcostwithin1.878billionyuan.
1.Implementanddeepenthetaskofstate-ownedenterprisereform
TheCompanywillcontinuetoimplementanddeepenthestate-ownedenterprisereform,strivetoimprovethelevelofindependentoperation,andacceleratethemodernizationandhigh-qualitydevelopmentofcorporategovernancecapacity.
2.Consolidateandexpandthemainbusinessofexpressway
In2022,theCompanywillcontinuetoconsolidateandexpandthemainbusinessofexpresswayandcontinuetostudytheM&Aofhigh-qualityprojects;consolidatetheinvestmentdecision-makingworkofexistingreconstructionandexpansionprojects,fullygraspthehistoricalopportunityofreconstructionandexpansionofEastGuangzhou-Zhuhai,Guangzhou-HuizhouandGuangdong-Zhaoqingexpressways,andpersistincooperatingwiththepreliminaryresearchrelatedworkofthereconstructionandexpansionprojectsofthesectionsparticipatedandheldbytheCompany.
3.Wellensuretheinvestmentinnon-mainbusinessofexpresswayandprovidenewprofitgrowthpoints
TheCompanyfullyutilizesthemarket-orientedinvestmentplatformofYuegaoCapital,expandstheequityinvestmentbusinessandincreasesthenewprofitgrowthpointoftheCompany'sexpresswaymainbusinessinvestment.
4.Acceleratetherevitalizationoflandresourcesalongtheexpressway
Continuetointensifythedevelopmentoflandresourcesalongtheexpressway,optimizethelanddevelopmentplaninanall-roundway,focusoneconomicbenefits,continuetorevitalizeplotssuchasXinjitian,ChenshanandShatou,soastomaximizecomprehensivebenefits.XII.Listofthereceivedresearches,visitsandinterviews
√Applicable□Notapplicable
Receptiontime | Placeofreception | Wayofreception | Typesofvisitors | Visitorsreceived | Maincontentsdiscussedandinformationprovided | Basicindex |
March26,2021 | MeetingRoomoftheCompany | ByPhone | Organization | ZheshangSecuritiestelephoneresearchmeeting:ZheshangSecuritiesKuangPeiqin;ZheshangSecuritiesFengShiqi;HuaxiaFundLiuPeiyi;ChinaMerchantsFundYaoShuang;InvescoGreatWallHeJinyang;SpringsCapitalLinShenglan;StarockInvestmentHongMei;OrientGuoZhe;HuataiSecuritiesLinXiaying;GuotaiJunanSecutitiesYinJiaqi;HaitongSecuritiesLuoYuejiang;ChangjiangSecuritiesZhangYibo;ChangjiangSecuritiesFengQibin;HuaxiSecuritiesLiChengpeng. | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports | www.cninfo.com.cn |
August27,2021 | MeetingRoomoftheCompany | ByPhone | Organization | HuataiSecuritiesTelephoneResearchMeeting:HuataiSecuritiesShenXiaofeng,LinXiaying;ZheshangSecuritiesKuangPeiqin;ZheshangSecuritiesFengShiqi;GuotaiJunanYueXin;GuotaiJunanZhangJingwen;GuotaiJunanZhangZhekai;ShanyuanInvestmentTangCong;JPMorganAssetManagementVivianTao;ValuePartnersLimitedNormanHo. | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports | www.cninfo.com.cn |
September8,2021 | MeetingRoomoftheCompany | ByPhone | Organization | IndustrialSecuritiesTelephoneResearchMeeting:IndustrialSecuritiesWangChunhuan;DongwuSecuritiesWangYingze;BankofChinaInvestmentManagementCo.,Ltd.ShenYuchen;SinosafeAssetsZhangMingzhao;JiashiFundLiuQian;MinshengTrustFuFeng;HongkangZiweiAssetsManagementCo.,Ltd.WuXiongwei;HuataiLiYanguan;DachengFundFuRui;DinghuiInvestmentHuangYanjie. | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports | www.cninfo.com.cn |
November1,2021 | MeetingRoomoftheCompany | ByPhone | Organization | CICCTelephoneResearchMeeting:CICCZhangWeinjie,LuoXinyu,GuYuanfan;ZhejiangShanyuanTangCong;FujianHaoshanAssetsHongJiarong;GuotaiJunanZhangZhekaiShanDeli. | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports | www.cninfo.com.cn |
IV.CorporateGovernanceI.GeneralsituationTheCompanystrictlyfollowedtherequirementoflawsandregulationsin<companylaw>,<theSecuritiesLaw>,<CodeofCorporateGovernanceforListedCompaniesinChina>,<StockListingRules>etc.andkeptonimprovingcorporategovernancestructures,improvingnormativeoperationlevel.Companyhadstipulatedrulessuchas<articlesofassociation>,rulesofproceduresinthreemeetings,workingguideofspecialcommitteeinboardofdirectors,workingguideofgeneralmanageretc.andinternalcontrolsystembasicallycoveringalloperatingmanagementsuchascompanyfinancialmanagement,investmentmanagement,informationdisclosure,relatedtransaction,externalguarantee,fundraisingetc.Allrulesarewellimplemented.Inthereportperiod,strictlyfollowingtherelevantprovisionsof“CompanyLaw”and“Regulations”,theshareholder’smeetingofourbankeffectivelyperformedthefunctions.Theboardofdirectorsistoberesponsiblefortheshareholder’smeeting,totaketheultimateresponsibilityforthebank’soperationandmanagementandtoconveneameetingaswellasperformingthefunctionandpoweraccordingtolegalprocedure.Inlinewiththeattitudewhichisresponsibleforallshareholdersandkeepinginclosecontactandcommunicationwiththeboardofdirectorsandthemanagement,theboardofsupervisorscarriesouttheassessmentworkondutyexercisingfortheboardofdirectorsandtheboardofsupervisors,effectivelyperformingfunctionsandobligationsofsupervision.Doesthereexistanydifferenceincompliancewiththecorporategovernance,thePRCCompanyLawandtherelevantprovisionsofCSRC,
□Yes√NoThereexistnodifferenceincompliancewiththecorporategovernance,thePRCCompanyLawandtherelevantprovisionsofCSRC.II.IndependenceandCompletenessinbusiness,personnel,assets,organizationandfinance
1.IndependentbusinessTheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,JingzhuExpresswayGuangzhuSectionandGuanghuiExpresswayinvestmentintechnologicalindustriesandprovisionofrelevantconsultaionwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,GuangzhouGuanghuiExpresswayCo.,Ltd..,GuangdongJiangzhongExpresswayCo.Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnologyPettyLoanCo.,Ltd.,GuangdongGuangleExpresswayCo.,Ltd.,GuoyuanSecuritiesCo.,Ltd,HunanLianzhiTechnologyCo.,Ltd.andSPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.TheCompanyhasoutstandingmainoperation,independentandcompletebusinessandtheabilityofindependentoperation.AllbusinessdecisionsoftheCompanyweremadeindependently,beingcompletelyseparatedfromtheshareholderwithactualcontrol.Relatedtransactionswerecarriedoutinlightoftheprincipleoffairtransaction,whichdidnotharmtheinterestsoftheCompanyandothershareholdersoftheCompany.Thecontentofrelatedtransactionswasfully,timelyandaccuratelydisclosed,whichdidnothavenegativeinfluenceontheCompany.
2.CompleteassetsTherelationshipoftheCompany'spropertyrightisclear.TheassetsinjectedbyshareholdersintheCompanyareindependentandcompleteandhaveclearpropertyright.Allcapitalwaspaidupandrelevantformalitiesofpropertyrightchangeweresettled.
3.IndependentpersonnelAsforpersonnelrelationship,thegeneralmanager,deputygeneralmanagers,thesecretarytotheboardofdirectorsandfinancialcontrolleroftheCompanywerefull-timeemployeesandreceivedsalaryfromtheCompany,whodidnotconcurrentlyholdpositionsattheparentcompany.AlldirectorsandsupervisorsoftheCompanywereelectedthroughlegalprocedure.Thegeneralmanager,deputygeneralmanagers,chiefaccountant,chiefeconomicengineerandchiefengineerweredirectlyappointedbytheboardofdirectors.Othermanagerialpersonnelofalllevelsweredirectlyappointedbythegeneralmanager.TheCompanyownsindependentpowerofpersonnelappointmentandremoval.
4.IndependentfinanceTheCompany,includingsubsidiariesestablishedindependentaccountingdepartment,independentaccountingsystemandregulationsonfinancialmanagement.
TheCompanyindependentlyopenedbankaccountanddidnotdepositfundsintheaccountsofthefinancecompanyorsettlementcenterofthemajorityshareholder.TheCompanyindependentlypaidtax.TheCompany'sfinancialdecisionswereindependentlymade.Themajorityshareholderdidnotinterferewiththeuseoffundsbylistedcompanies.
5.IndependentorganizationTheboardofdirectors,thesupervisorycommitteeandotherinternalorgansoftheCompanyoperatedindependently.Itsorgansarecompleteandindependent.III.HorizontalCompetitions
□Applicable√Notapplicable
IV.AnnualGeneralMeetingandExtraordinaryShareholders’MeetingsintheReportingPeriod
1.AnnualGeneralMeeting
Sessions | Typeofmeeting | Investorparticipationratio | MeetingDate | Disclosuredate | Disclosureindex |
TheFirstprovisionalshareholders’Generalmeetingof2021 | Provisionalshareholders’Generalmeeting | 65.66% | February3,2021 | February4,2021 | 1.ThemeetingexaminedandadoptedtheProposalonSigningtheSupplementaryAgreementtotheFinancialServicesAgreementwithGuangdongCommunicationsGroupFinanceCo.,Ltd.2.ThemeetingexaminedandadoptedtheProposalonRequestingtheIncreaseofAuditFeesforAnnualFinancialReports.3.ThemeetingexaminedandadoptedtheProposalregardingtheelectionofMr.LuMingasdirectoroftheninthboardofdirectorsoftheCompany. |
2020Shareholders’generalmeeting | AnnualShareholders’GeneralMeeting | 65.63% | June22,2021 | June23,2021 | 1.ThemeetingexaminedandadoptedtheProposalConcerningFinalAccountingReportfor2020.2.ThemeetingexaminedandadoptedtheProposalConcerningPreplanforProfitDistributionfor2020.1.It’splannedtodrawRMB93,232,912.82thatisbasedon10%ofthenetprofitrealizedbytheparentcompanyforthestatutorysurplusreserve.2.RMB608,424,582.67istobeallocatedasthefundfordividenddistributionfor2020.withthetotalsharesattheendof2020,i.e.,2,090,806,126shares,asthebase,cashdividendofRMB2.91(includingtax)istobedistributedforevery10shares.Theremainingundistributedprofitsaretobecarriedforwardtothenextyear.TheforeignexchangetranslationofthecashdividendsforshareholdersholdingBshareandoverseascorporateshareswillbedeterminedaccordingtoHKD:RMBbank’sMiddleratequotedbyPeople’sBankofChinaonthefirstworkingdayafter2020annualshareholders’generalmeetingmakesresolutionondividenddistribution.3.ThemeetingexaminedandadoptedtheProposalConcerningOverallbudgetreportoftheCompanyfor2021.4.ThemeetingexaminedandadoptedtheWorkReportoftheBoardofDirectorsfor2020.5.ThemeetingexaminedandadoptedtheWorkReportofthesupervisoryCommitteefor2020.6.ThemeetingexaminedandadoptedAnnualReportfor2020anditssummary.7.ThemeetingexaminedandadoptedtheProposalforHiringthe2021AnnualFinancialReportAuditAgency.8.ThemeetingexaminedandadoptedtheProposalforHiringthe2021InternalControlAuditInstitution.9.ThemeetingexaminedandadoptedtheProposalontheelectionofMr.RenHuaasthedirectoroftheninthboardofdirectorsofthecompany. |
TheSecondprovisionalshareholders’Generalmeetingof2021 | Provisionalshareholders’Generalmeeting | 40.27% | August16,2021 | August17,2021 | ThemeetingexaminedandadoptedtheProposalonincreasingcapitaltoGuangdongJiangzhongExpresswayCo.,Ltd.toparticipateintheinvestmentintheshenzhen-CenxiExpresswayZhongshanXinlongtoJiangmenLongwanSectionReconstructionandExpansionProject. |
TheThirdprovisionalshareholders’Generalmeetingof2021 | Provisionalshareholders’Generalmeeting | 65.86% | November24,2021 | November25,2021 | ThemeetingexaminedandadoptedtheProposalonAmendingPartoftheArticlesofAssociationoftheCompany. |
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsrestore
□Applicable√Notapplicable
V.InformationaboutDirectors,SupervisorsandSeniorExecutives
1.Basicsituation
Name | Positions | Officestatus | Sex | Age | Startingdateoftenure | Expirydateoftenure | Sharesheldattheyear-begin(share) | Stockoptions | Numberofrestrictedsharesgranted(shares) | Thenumberofsharesheldinthecurrentperiod(shares) | Numberofsharesreducedinthecurrentperiod(shares) | Otherchanges(sharea) | Numberofsharesheldattheendoftheperiod(shares) | Reasonsforincreaseordecreaseofshares |
ZhengRenfa | BoardChairman | Inoffice | Male | 52 | January4,2017 | September20,2022 | ||||||||
WangChunhua | Director,GeneralManager | Inoffice | Male | 57 | October19,2015 | September20,2022 | 135,100 | 135,100 | ||||||
LuMing | Director,Chiefaccountant | Inoffice | Male | 43 | December25,2020 | September20,2022 | ||||||||
ZuoJiang | Director,DeputyGeneralManager | Inoffice | Female | 49 | October19,2015 | September20,2022 | ||||||||
ChenMin | Director | Inoffice | Male | 58 | July19,2017 | September20,2022 | ||||||||
ZengZhijun | Director | Inoffice | Male | 51 | December4,2017 | September20,2022 | ||||||||
You | Director | Inoffice | Male | 54 | July21,2020 | September20,2022 |
Name | Positions | Officestatus | Sex | Age | Startingdateoftenure | Expirydateoftenure | Sharesheldattheyear-begin(share) | Stockoptions | Numberofrestrictedsharesgranted(shares) | Thenumberofsharesheldinthecurrentperiod(shares) | Numberofsharesreducedinthecurrentperiod(shares) | Otherchanges(sharea) | Numberofsharesheldattheendoftheperiod(shares) | Reasonsforincreaseordecreaseofshares |
Xiaocong | ||||||||||||||
RenHua | Director | Inoffice | Male | 46 | June22,2021 | September20,2022 | ||||||||
WuHao | Director | Inoffice | Female | 49 | November2,2020 | September20,2022 | ||||||||
HuangHai | Director | Inoffice | Male | 46 | July21,2016 | September20,2022 | ||||||||
GuNaikang | Independentdirector | Inoffice | Male | 56 | July21,2016 | September20,2022 | ||||||||
BaoFangzhou | Independentdirector | Inoffice | Male | 43 | July21,2016 | September20,2022 | ||||||||
ZhangHua | Independentdirector | Inoffice | Male | 56 | December4,2017 | September20,2022 | ||||||||
LiuZhonghua | Independentdirector | Inoffice | Male | 56 | December4,2017 | September20,2022 | ||||||||
ZengXiaoqing | Independentdirector | Inoffice | Female | 52 | May20,2019 | September20,2022 | ||||||||
JiangChangwen | ChairmanoftheSupervisoryCommittee | Inoffice | Male | 54 | May20,2019 | September20,2022 |
Name | Positions | Officestatus | Sex | Age | Startingdateoftenure | Expirydateoftenure | Sharesheldattheyear-begin(share) | Stockoptions | Numberofrestrictedsharesgranted(shares) | Thenumberofsharesheldinthecurrentperiod(shares) | Numberofsharesreducedinthecurrentperiod(shares) | Otherchanges(sharea) | Numberofsharesheldattheendoftheperiod(shares) | Reasonsforincreaseordecreaseofshares |
KeLin | Supervisor | Inoffice | Female | 52 | September15,2017 | September20,2022 | ||||||||
ZhouYisan | Supervisor | Inoffice | Male | 41 | September9,2019 | September20,2022 | ||||||||
DengYunfeng | Supervisor | Inoffice | Male | 46 | December23,2021 | September20,2022 | ||||||||
ChengRui | DeputyGeneralManager | Inoffice | Male | 47 | August28,2017 | September20,2022 | ||||||||
LuoBaoguo | DeputyGeneralManager | Inoffice | Male | 48 | December25,2020 | September20,2022 | ||||||||
HeBing | legalcounsel | Inoffice | Female | 54 | July23,2012 | September20,2022 | ||||||||
YangHanming | SecretarytotheBoard | Inoffice | Male | 52 | August28,2017 | September20,2022 | ||||||||
ZhuoWeiheng | Director | Dimission | Male | 50 | December4,2017 | February24,2021 | ||||||||
LiHaihong | Supervisor | Dimission | Female | 50 | July21,2016 | December23,2021 | ||||||||
Feng | Supervisor | Dimission | Male | 57 | September | December23,2021 |
Name | Positions | Officestatus | Sex | Age | Startingdateoftenure | Expirydateoftenure | Sharesheldattheyear-begin(share) | Stockoptions | Numberofrestrictedsharesgranted(shares) | Thenumberofsharesheldinthecurrentperiod(shares) | Numberofsharesreducedinthecurrentperiod(shares) | Otherchanges(sharea) | Numberofsharesheldattheendoftheperiod(shares) | Reasonsforincreaseordecreaseofshares |
Yuan | 9,2019 | |||||||||||||
Total | -- | -- | -- | -- | -- | -- | 135,100 | 0 | 0 | 0 | 0 | 0 | 135,100 | -- |
Duringthereportingperiod,whetherthereisdismissalofdirectorsandsupervisorsanddecruitmentofseniormanagers
√Yes□No
1.Mr.ZhuoWeiheng,director,resignedfromtheBoardofDirectorsoftheCompanyonFebruary24,2021duetojobtransfer.Afterhisresignation,Mr.ZhuoWeihengdidnotholdanyotherpositionsintheCompany.
2.Ms.LiHaihong,supervisor,andMr.FengYuan,theemployeesupervisor,resignedfromtheSupervisoryBoardoftheCompanyonDecember23,2021duetojobtransfer.Afterresignation,Ms.LiHaihongandMr.FengYuandidnotholdotherpositionsintheCompany.II.Changesofdirectors,supervisorsandseniorexecutives
√Applicable□Notapplicable
Name | Positions | Types | Date | Reason |
ZhuoWeiheng | Director | Dimission | February24,2021 | Jobchange |
LiHaihong | Supervisor | Dimission | December23,2021 | Jobchange |
FengYuan | Supervisor | Dimission | December23,2021 | Jobchange |
III.PostsholdingProfessionalbackgrounds,majorworkexperienceandcurrentdutiesintheCompanyoftheincumbentdirectors,supervisorsandseniormanagement:
Mr.ZhengRenfa,HeservedasChairman,MasterDegree,Senioreconomicengineer.SinceDecember2005,HeservedasDeputyMinisterofInvestmentManagementDepartmentofGuangdongCommunicationGroup,SinceApril21,2014,Heservedasdirector,SinceAugust15,2016,theimplementationofthedutiesoftheBoardofDirectorsandthelegalrepresentativeoftheduties.SinceJanuary4,2017,hewasthechairmanoftheboardofdirectorsoftheCompany.Mr.WangChunhua,HeservedasDirectorandGeneralManageroftheCompany,MasterDegree,seniorengineerandsenioreconomicengineer,SinceSeptember2006,heservedasDeputyGeneralManageroftheCompany.FromMarch2013toOctober2015,HeservedasdirectorandDeputyGeneralManageroftheCompany,SinceOctober2015,HeservedasDirectorandGeneraldirectoroftheCompany,andholdaconcurrentpostofvicechairmanofShenzhenHuiyanExpresswayCo.,Ltd.
LuMing,isthedirectoroftheCompany,chiefaccountant,senioraccountant,withthegraduatedegreeandMBA.FromJuly1999toFebruary2001,heservedastheaccountantofJingzhuExpresswayGuangzhuSectionCo.,Ltd;fromFebruary2001toNovember2003,heservedastheaccountantoftheZhongjiangExpresswayProjectPreparationOffice,andfromNovember2003toSeptember2006,heservedasDeputyManageroftheAccountingandFinanceDepartmentoftheWestRingSection(SouthSection)ofthePearlRiverDeltaRingExpressway.FromSeptember2006toFebruary2008,heservedastheaccountantoftheFinancialAuditDepartmentofGuangdongProvincialHighwayConstructionCo.,Ltd.FromFebruary2008toMarch2009,hesuccessivelyservedasthedeputymanagerandmanageroftheFinanceDepartmentoftheSouthernBranchoftheWestSecondRingRoadofGuangdongProvincialHighwayConstructionCo.,Ltd;fromMarch2009toDecember2020,heservedasthemanagerpersonnel,deputysupervisorofbusinessandbusinesssupervisoroftheFinancialManagementDepartmentofGuangdongProvincialCommunicationsGroupCo.,Ltd.Duringtheperiod
fromDecember2018toDecember2019,heservedasthefirstsecretaryofthePartybranchoftheYinghuaiManagementOfficeoftheLonghuaiExpresswayManagementCenterofNanyueTransportationofGuangdongProvince.HehasbeenthechiefaccountantoftheCompanysinceDecember25,2020,andhehasservedasthedirectoroftheCompanysinceFebruary3,2021.HealsoservesastheviceChairmanofGangzhouKangdaExpresswayCo.,Ltd.,ajointstockcompanyoftheComapnyandDirectorofGuangdongYuekeTechnologyPettyLoanCo.,Ltd.
Ms.ZuoJiang,DeputyGeneralManageroftheCompany,MasterofEconomics,SeniorEconomist,QualifiedasLegalAdviseroftheEnterprise,SecretaryoftheBoardofDirectors.HehasbeenworkingintheCompanysince1994.HehasbeentheMinisterofSecuritiesAffairsoftheCompanysince1999.HehasbeentheSecretaryoftheBoardofDirectorsandDirectorofSecuritiesAffairsDepartmentsinceMarch2006.FromOctober2015toJuly2016,hewastheDeputyGeneralManagerandSecretaryoftheBoardofDirectorsAndMinisterofSecuritiesAffairs.SinceOctober2015,hehasbeentheDeputyGeneralManageroftheCompany,andholdaconcurrentpostofDirectorofYuekeTechnologyPettyLoanCo.,Ltd.,anddirectorofGuoyuanSecuritiesCo.,Ltd.Mr.ChinMin,HeservesasDirector,undergraduatedegree,senioreconomist,corporatelegaladviser,costengineer.FromSeptember2001toAugust2009,HeservedasSenioreconomist,DirectorandGeneralManagerofGuangdongJingtongHighwayEngineeringConstructionGroupCo.,Ltd.,FromAugust2009toApril2011,HeservedasDeputyGeneralManagerofGuangdongNanyueLogisticsCo.,Ltd.,FormApril2011toSeptember2021,HeservedasDuputyMinisterofLegalAffairsofGuangdongCommunicationsGroupCo.,Ltd.,SinceSeptember2021,HeservedasMinisterofLegalAffairsofGuangdongCommunicationsGroupCo.,Ltd.,Since
July,19,2017,HeservedasDirectoroftheCompany.
Mr.ZengZhijun,economist,isadirectoroftheCompany,withmasterdegree.SinceJune2010,hehasservedasthedeputychiefeconomistofGuangdongProvincialExpresswayCo.,Ltd.FromJanuary2015toSeptember2015,heservedasMinisterofInvestmentPlanningDepartmentofGuangdongProvincialExpresswayCo.,Ltd;sinceSeptember2015,hehasservedasMinisterofLegalAffairsDepartmentofGuangdongProvincialExpresswayCo.,Ltd.,SinceSeptember2020,HeservesasMinisterofpersonnelresourcedepartment,SinceDecember4,2017,
heservesasDirectoroftheCompany.
YouXiaocong,senioraccountant,isthedirectoroftheCompany,withbachelordegree.FromAugust1990toMay2008,hesuccessivelyservedasthedeputymanagerandmanagerofthefinancedepartmentofGuangfaTransportationCo.,Ltd.,andthemanager,directorandchiefaccountantofthefinancedepartmentofMacauQi’guanChe’luCo.,Ltd.FromMay2008toJanuary2015,heservedastheassignedchairmanoftheboardofsupervisorsofGuangdongProvincialCommunicationsGroupCo.,Ltd.FromJanuary2015toMay2015,heservedasthedirectorandchiefaccountantofGuangdongProvincialHighwayConstructionCo.,Ltd.,andsinceMay2015,hehasservedasthedirector,chiefaccountant,andmemberofthepartycommitteeofGuangdongProvincialHighwayConstructionCo.,Ltd.HehasservedasdirectoroftheCompanysinceNovember2,2020.Mr.RenHua,directoroftheCompany,masterdegree,engineer.FromJune1998toAugust2001,hewasateacherintheDepartmentofCivilEngineering,WestBranchofSouthChinaConstructionInstitute.FromSeptember2001toJune2004,hestudiedinbridgeandtunnelengineeringinSouthChinaUniversityofTechnology.HeservedasthesupervisoranddeputymanagerofthePlanningandContractDepartmentofGuangdongWestCoastalExpresswayZhuhaiSectionCo.,Ltd.fromJuly2004toOctober2009,thesupervisoroftheInvestmentandOperationDepartmentandDeputyDirectoroftheLegalAffairsDepartmentofGuangdongHighwayConstructionCo.,Ltd.fromOctober2009toSeptember2017,deputychiefeconomistanddeputydirectoroftheLegalAffairsDepartmentofGuangdongHighwayConstructionCo.,Ltd.fromSeptember2017to
April2020,deputychiefeconomistanddeputydirectoroftheLegalAffairsDepartmentandsecretaryofthepartybranchoftheInvestmentManagementDepartmentofGuangdongHighwayConstructionCo.,Ltd.fromApril2020toDecember2021,andgeneralcounsel,deputychiefeconomist,deputydirectorofLegalAffairsDepartmentandsecretaryofthePartybranchoftheInvestmentManagementDepartmentofGuangdongHighwayConstructionCo.,Ltd.sinceDecember2021.HehasservedasthedirectoroftheCompanysinceJune22,2021.WuHao(resignedfromthedirectorandmemberoftheAuditCommitteeonDecember21),isthedirectoroftheCompany,withbachelordegree.FromSeptember1992toOctober2011,shesuccessivelyservedasasectionmemberanddeputysectionchiefoftheFinanceSectionoftheAdministrationforIndustryandCommerceofTongziCounty,GuizhouProvince.FromOctober2011toFebruary2012,heservedasthesectionchiefoftheFinanceSectionoftheHuichuanDistrictAdministrationforIndustryandCommerce,ZunyiCity,GuizhouProvince.FromApril2013toMay2020,Shesuccessivelyservedasdeputymanagerofthefinancedepartment,deputymanageroftheinvestmentbusinessdepartment,andmanageroftheinvestmentbusinessdepartmentofShandongExpresswayInvestmentDevelopmentCo.,Ltd.ShehasservedasthedeputygeneralmanagerandmemberofpartycommitteeofShandongExpresswayInvestmentDevelopmentCo.,LtdsinceMay2020.FromNovember2,2020,hehasservedasdirectoroftheCompany.Mr.HuangHai,MBA,joinedtheworkin1997.HehadsuccessivelyservedasthebusinessmanagerofthefinancialdepartmentofShenzhenWofaMedicalNewTechnologyDevelopmentCo.,Ltd.,themanagerofthemarketingdepartmentofShantouBranchofGuangzhouXingdaCommunicationCo.,Ltd,themanagerofthesecuritiesdepartmentandsecuritiesaffairsrepresentativeofZhongshanPublicTechnologyCo.,Ltd.,andDeputyGeneralManageroftheSecuritiesDepartmentofPolyRealEstateandDirectoroftheOfficeoftheSecretaryoftheBoardofDirectorsofPolyRealEstate,currentlyservingasSecretaryoftheBoardandDirectoroftheOfficeoftheBoardofDirectorsofPolyDevelopmentHoldingGroupCo.,Ltd.,ChairmanofPolyPropertyDevelopmentCo.,Ltd.,ExecutiveDirectorandGeneralManagerofTibetYingyueInvestmentManagementCo.,Ltd.SinceJuly21,2016,hehasservedasdirectoroftheCompany.Mr.BaoFangzhou,IndependentdirectoroftheCompany,MasterofLaw.ShanghaiJinTianchengLawFirm,SeniorPartner,2008-2014FormerIndependentDirectorofNewNanyangCo.,Ltd.Since2013,hehasbeenanindependentdirectorofHubeiWushiPharmaceuticalCo.,Ltd.sinceJune2016,PowerCo.,Ltd.IndependentDirector.FromJuly21,2016,HeisanindependentdirectoroftheCompany.GuNaikang,IndependentdirectorsanddoctoratedegreeoftheCompany.SinceJune2004,hehasbeenaprofessoranddoctoraltutorofFinanceandInvestmentDepartmentofZhongshanUniversitySchoolofManagement.HeiscurrentlyanindependentdirectorofGuangxiGuitang(Group)Co.,Ltd.,anindependentdirectorofDongguanYuqiuElectronicsCo.,Ltd.andanindependentdirectorofGuangzhouZhujiangIndustrialDevelopmentCo.,Ltd.FromJuly21,2016,heisanindependentdirectoroftheCompany.Mr.LiuZhonghua,professorofaccounting,isanindependentdirectoroftheCompany,withmasterdegree.InSeptember2005,hewastransferredtotheSchoolofManagementofGuangdongUniversityofForeignStudiestoteach.HeiscurrentlyaprofessorattheSchoolofAccountingofGuangdongUniversityofForeignStudies,heisamastertutor,concurrentlyservesasmemberofAccountingSocietyofChina,executivememberofChinaAssociationofForeignTradeandEconomicAccounting,vicechairmanofGuangdongProvinceManagementAccountingAssociation,executivememberofGuangdongProvincialAccountingAssociationandmemberofGuangdongAuditSociety.SinceDecember4,2017,heisanindependentdirectoroftheCompany.
Mr.ZhangHua,economist,isanindependentdirectoroftheCompany,withMasterDegree.FromMay2006toMay2012,heservedasdeputygeneralmanagerandchiefinvestmentdirectorofGuangzhouYingzhiCaihuaInvestmentCo.,Ltd.FromJune2012toSeptember2016,heservedasthedeputygeneralmanagerofGuangzhou
De’ruiInvestmentCo.,LtdandconcurrentlyservedasDeputyGeneralManagerofShenzhenDongyingRuitongInvestmentManagementPartnership(LimitedPartnership);sinceOctober2016,hehasservedasgeneralmanagerofShanghaiErLuoInvestmentManagementServiceCenter(GeneralPartnership).FromNovember2010toJanuary2017,heservedasanindependentdirectorofGuangzhouYuYinTechnologyCo.,Ltd.FromDecember2011toSeptember2017,heservedasanindependentdirectorofGuangdongElectricPowerDevelopmentCo.,Ltd.InSeptember2017,hewasanindependentdirectorofZhuhaiTaichuanCloudCommunityTechnologyCo.,Ltd.,SinceDecember4,2017,heisanindependentdirectoroftheCompany.
Ms.ZengXiaoqing,anindependentdirectoroftheCompany,withbachelor's,master'sanddoctor'sdegreesfromTongjiUniversity.Since1993,sheconductedtrainingandstudyatTsinghuaUniversityandGermanDarmstadtUniversityofTechnology.FromFebruary2000toOctober2002,sheconductedpost-doctoralresearchandstudyinTokyoInstituteofTechnology,Japan.ShebegantoworkinTongjiUniversityin1993,servedasassistantdirectorofShanghaiMunicipalGovernment'sExpoScienceandTechnologyPromotionCenterfrom2005to2012,andservedasvice-chairmanandsecretary-generalofShanghaiCreativeStudiesInstitutefrom2012;SheiscurrentlythedirectorofTongjiUniversity'sJointExperimentalCenterforTrafficInformationControl,professoranddoctoralsupervisorofTongjiUniversity'sSchoolofTransportationEngineering.FromMay20,2019,sheservedastheindependentdirectoroftheCompany.
Mr.JiangChangwen,male,is52yearsold,masterofmanagement,senioraccountant,senioreconomist.FromJuly1999toNovember2006,heworkedinGuangshenzhuExpresswayCo.,Ltd.,andservedasthesupervisor,deputymanagerandmanageroftheaccountingdepartment.FromNovember2006toJanuary2009,heworkedintheJiangzhongExpresswayCompany,andservedasthefinancedepartmentmanager;sinceJanuary2009,hehasworkedintheGuangdongProvincialTransportationGroupCo.,Ltd,andhasservedasasupervisor.FromMay20,2019,heistheassignedchairmanofthesupervisoryboardofGuangdongCommunicationGroupCo.,Ltd.Ms.KeLin,bachelordegree,BachelorofScience,assistantresearcher.ShebegantotakeajobinJuly1991.Shehadsuccessivelyservedascadreofpersonneldepartment,deputyhead,headofthepersonneldepartment,sectionchiefrankcadreofdisciplineinspectionandsupervisiondepartment,directorofthecommissionfordisciplineInspection(deputy-directorlevel).InNovember2008,shewastransferredtoworkinProvincialTransportationGroup,successivelyservedasmemberofpartycommittee,unionchairmananddisciplineinspectioncommissionsecretary.FromJanuary2013toAugust2017,shehasservedaspartycommitteemember,disciplineinspectioncommissionsecretaryandchairmanoftheunioninYueyunTransportation..SinceSeptember15,2017,SheservedassupervisorofBoardofsupervisoroftheCompany.
Mr.ZhouYisan,supervisoroftheCompany,postgraduatedegree,masteroflaw,enterpriselegalconsultant,withnationallegalprofessionalqualification,boardsecretaryqualification,andsecurities,fundandfuturespractitionerqualification.FromFebruary2014toApril2016,hewasthedeputysupervisoroftheLegalAffairsDepartmentofGuangdongTransportationGroupCo.,Ltd.FromApril2016toSeptember2017,hewasthedeputyheadoftheInvestmentDevelopmentDepartmentandLegalAffairsDepartmentoftheCompany,andhehasbeentheheadofLegalAffairsDepartmentoftheCompanysinceSeptember2017.FromSeptember9,2019,heservedastheemployeesupervisorofthe9thSupervisoryCommitteeoftheCompany.HealsoservesassupervisorofGuangdongYuekeTechnologyPettyLoanCo.,Ltd.
Mr.DengYunfeng,supervisoroftheCompany,bachelordegree,MBA,seniorengineer.HeservedasPartySecretaryofGuangzhou-FoshanExpresswayCo.,Ltd.fromFebruary2014toJuly2018;MinisterofPartyandMassWorkDepartmentoftheCompanyfromJuly2018tothepresent,andalsovicechairmanofthetradeunionoftheCompanyandchairmanofthetradeunionofitsheadquartersfromMarch2021tothepresent.HehasservedastheemployeesupervisoroftheninthboardofsupervisorsoftheCompanysinceDecember23,2021.
Mr.ChengRui,On-jobpostgraduate,masterofbusinessadministration,withalawyerqualification.HebegantotakeajobinJuly1997.Hehadsuccessivelyservedasdevelopmentdepartmentstaff,deputymanagerofinvestmentmanagementdepartmentandmanagerofinvestmentmanagementdepartmentinXinyueCo.,Ltd,servedasDeputyGeneralManagerofXinyueCompanyinAugust2015,andservedasdeputyministerofstrategicdevelopmentdepartmentfromApril2016toAugust2017.SinceAugust2017,heservedasDeputyGeneralManageroftheCompany.Duringthisperiod,startingfromMay2019toAugust2021,hewasassignedasthefirstsecretaryofthePartyorganizationinShanhuVillage,JinheTown,JiexiCounty,JieyangCity.Mr.LuoBaoguo,deputygeneralmanageroftheCompany,withgraduatedegreeandmasterofengineering,isseniorengineer.FromJuly1999toDecember2003,hesuccessivelyservedasthechiefengineeroftheLbidprojectofthesouthernsectionoftheJingzhuExpresswayoftheGuangdongProvincialHighwayEngineeringConstructionGroupCo.,Ltd.,thedeputymanagerandtechnicalsponsorofthesouthernJingzhupavementproject,DeputyManagerandChiefEngineerofthePavementProjectDepartmentoftheJingzhuSouthernFogangSection,ManageroftheProjectManagerDepartmentandDeputyManageroftheSecondBranchoftheEighthContractSectionofHenanJiaozuo-JinchengExpressway.FromDecember2003toMarch2007,hesuccessivelyservedasthemanageroftheuniversitytownproject,themanagerofthebusinesscontractdepartment,andtheemployeesupervisoroftheGuangdongJingtongHighwayEngineeringConstructionGroupCo.,Ltd.FromMarch2007toJuly2014,heservedasDirectoroftheProjectDevelopmentOfficeandDirectoroftheInvestmentDevelopmentDepartmentofGuangdongExpresswayDevelopmentCo.,Ltd.FromAugust2014toJuly2017,heservedasthedirector,generalmanageranddeputypartysecretaryofGuangdongFokaiExpresswayCo.,Ltd.FromAugust2017toDecember2020,heservedasthegeneralmanager(personincharge)anddeputysecretaryofthePartyCommitteeofFokaiBranchofGuangdongExpresswayDevelopmentCo.,Ltd.FromDecember25,2020,hehasservedasthedeputygeneralmanageroftheCompany.HeconcurrentlyservesasthechairmanofZhaoqingYuezhaoHighwayCo.,Ltd.-thecompany'sshare-participatingcompany,andservesasthevicechairmanofGuangdongJiangzhongExpresswayCo.,Ltd.Ms.HeBing,generalcounsel,master'sdegreeinlaw,enterpriselegaladviser,fromAugust2005toJuly2012,sheservedasDeputychiefeconomicengineeroftheCompany,SinceJuly2012,sheservedasChieflegaladviseroftheCompany.Mr.YangHanming,hehasbeentheSecretaryoftheBoard,bachelor'sdegree,senioreconomist,corporatelegaladviser,withtheboardsecretaryqualifications.SinceMarch2000,hehasbeensuccessivelyservedasdeputyministerofinvestmentplanningandministeroflegalaffairsinGuangdongProvincialExpresswayDevelopmentCo.,Ltd.SinceAugust2014,hehasbeenconcurrentlyservedasministerofinvestmentanddevelopment.SinceAugust2017,hehasbeentheSecretaryoftheBoardoftheCompany,viceChairmanofGanzhouGankangExpresswayCo.,Ltd.,DirectorofGuangdongJiangzhongExpresswayCo.,ltd.andsupervisorofGuangdongYuekeTechnologyPettyLoanCo.,Ltd.,SinceSeptember2019,heservedasMinisterofDevelopmentDeptoftheCompany.HealsoservesastheviceChairmanofGangzhouKangdaExpresswayCo.,Ltd.,ajointstockcompanyoftheCompany.Officetakinginshareholdercompanies
√Applicable□Notapplicable
Namesofthepersonsinoffice | Namesoftheshareholders | Titlesengagedintheshareholders | Sharingdateofofficeterm | Expirydateofofficeterm | Doeshe/shereceiveremunerationorallowancefromtheshareholder |
ChenMin | GuangdongCommunicationGroup | MinisterofLegalAffairs. | December1,2014 | Yes | |
YouXiaocong | GuangdongHighwayConstructionCo.,Ltd. | Chiefaccountant,PartycommitteememberandSecretaryoftheboardofdirectors | January14,2015 | Yes | |
RenHua | GuangdongHighwayConstructionCo.,Ltd. | GeneralLegalCounsel,DeputyChiefEconomist,DeputyMinisteroftheLegalAffairsDepartment,PartyBranchSecretaryoftheInvestmentManagementDepartment | September1,2017 | Yes | |
ZengZhijun | GuangdongProvincialFreewayCo.,Ltd. | GeneralCounsel,MinisterofHumanResources | September1,2015 | Yes | |
JiangChangwen | GuangdongCommunicationGroupCo.,Ltd. | Dispatchedchairmanofthesupervisorycommittee | January1,2009 | Yes |
Officestakeninotherorganizations
√Applicable□Notapplicable
Nameofthepersonsinoffice | Nameofotherorganizations | Titlesengagedintheotherorganizations | Startingdateofofficeterm | Expirydateofofficeterm | Doeshe/shereceiveremunerationorallowancefromotherorganization |
BaoFangzhou | ShanghaiAllbrightlawfirm | Lawyer,Seniorpartner | January1,2000 | Yes | |
BaoFangzhou | LaurelPowerCo.,Ltd. | Independentdirector | June1,2016 | Yes | |
GuNaikang | FinanceandInvestment,SchoolofBusinessSunYAT-SENUniversity | Professor,doctoralsupervisor | January1,2004 | Yes | |
GuNaikang | MingyangIntelligentEnergyGroupCo.,Ltd. | Independentdirector | July1,2017 | Yes | |
GuNaikang | ZhuboDesignCo.,Ltd. | Independentdirector | December1,2019 | Yes | |
GuNaikang | ShenzhenShinningElectronicCo.,Ltd. | Independentdirector | December11,2020 | No | |
GuNaikang | YoumiTechnologyCo.,Ltd. | Independentdirector | May18,2021 | Yes | |
ZhangHua | ShanghaiErroInvestmentManagementServiceCentre(Generalpartnership) | GeneralManager | October1,2016 | Yes | |
ZhangHua | ZhuhaiTaichuanCommunityTechnologyCo.,Ltd. | Independentdirector | September1,2017 | Yes | |
ZhangHua | GuangzhouYuyinTechnologyCo.,Ltd. | Independentdirector | November1,2018 | Yes | |
ZhangHua | GuangzhouRuralCommercialBank | Independentdirector | March18,2021 | Yes | |
LiuZhonghua | CollegeofAccounting,GuangdongUniversityofForeignStudies | Professor,Master’ssupervisor | September1,2005 | Yes | |
LiuZhonghua | GelinmeiCo.,Ltd. | IndependentDirector | March20,2019 | Yes | |
LiuZhonghua | GuangdongShaogangSongshanCo.,Ltd. | IndependentDirector | June25,2019 | Yes | |
Liu | LuxsharePreciaionIndustryCo., | IndependentDirector | June1,2021 | Yes |
Zhonghua | Ltd. | ||||
WuHao | ShandongExpresswayInvestmentDevelopmentCo.,Ltd. | DeputyGM | May,29,2020 | Yes | |
HuangHai | PolyDevelopmentsandHoldingsGroupCo.,Ltd. | SecretarytotheBoard | April26,2012 | Yes | |
HuangHai | PolyPropertyDevelopmentCo.,Ltd. | Boardchairman | April22,2019 | No | |
ZengXiaoqing | TongjiUniversity'sSchoolofTransportationEngineering | Professoranddoctoralsupervisor | June1,2007 | Yes | |
ZengXiaoqing | TongjiUniversity'sJointExperimentalCenterforTrafficInformationControl | Director | June30,2003 | No |
Punishmentstothecurrentandleavingboarddirectors,supervisorsandseniormanagersduringthereportperiodbysecuritiesregulatorsintherecentthreeyears
□Applicable√NotapplicableIV.Remunerationtodirectors,supervisorsandseniorexecutivesDecision-makingprocedures,basisfordeterminationandactualpaymentoftheremunerationtodirectors,supervisorsandseniorexecutives
TheremunerationofmembersoftheEighthboardofdirectorsandsupervisorycommitteewasexaminedanddeterminedatthesecondprovisionalshareholders’generalmeetingin2019.Theremunerationoftheseniorexecutivesisdeterminedbytheassetsoperationresponsibilitysysteminthatyear.
1.ThedirectorsoftheCompanyandthecontrollingshareholderoftheCompanyanditsrelatedparties,aswellasthedirectorsoftheCompany,shallnotreceivetheremunerationofthedirectors.
2.DirectorswhohavenotheldotherpositionsintheCompanyandthecontrollingshareholderoftheCompanyanditsrelatedpartiesareremuneratedbythedirectorsoftheCompany,andthestandardisRMB6,000(taxincluded)perpersonpermonth.Inaddition,theexpensesincurredbytheindependentdirectorsattheboardofdirectorsandtheshareholders'generalmeetingandtheexpensesincurredinexercisingtheirfunctionsandpowersinaccordancewiththearticlesofassociationmaybereimbursedinthecompany.Remunerationtodirectors,supervisorsandseniorexecutivesinthereportingperiod
InRMB10,000
Name | Positions | Sex | Age | Officestatus | TotalremunerationreceivedfromtheCompany | Whethertogetpaidinthecompanyrelatedparty |
ZhengRenfa | BoardChairman | Male | 52 | InOffice | 80.14 | No |
WangChunhua | Director,GeneralManager | Male | 57 | InOffice | 77.27 | No |
LuMing | Director,ChiefAccountant | Male | 43 | Inoffice | 50.11 | No |
ZuoJiang | Director,DeputyGeneralManager | Female | 49 | InOffice | 66.76 | No |
ChenMin | Director | Male | 58 | InOffice | 0 | Yes |
ZengZhijun | Director | Male | 51 | InOffice | 0 | Yes |
YouXiaocong | Director | Male | 54 | InOffice | 0 | Yes |
ZhuoWeiheng | Director | Male | 50 | Dimission | 0 | Yes |
RenHua | Director | Male | 46 | InOffice | 0 | Yes |
WuHao | Director | Female | 49 | InOffice | 0 | Yes |
HuangHai | Director | Male | 46 | InOffice | 0 | No |
GuNaikang | Independentdirector | Male | 56 | InOffice | 7.2 | No |
BaoFangzhou | Independentdirector | Male | 43 | InOffice | 7.2 | No |
ZhangHua | Independentdirector | Male | 56 | InOffice | 7.2 | No |
LiuZhonghua | Independentdirector | Male | 56 | InOffice | 7.2 | No |
ZengXiaoqing | Independentdirector | Female | 52 | InOffice | 7.2 | No |
JiangChangwen | ChairmanoftheSupervisoryCommittee | Male | 55 | InOffice | 0 | Yes |
LiHaihong | Supervisor | Female | 50 | Dimission | 0 | Yes |
KeLin | Supervisor | Female | 52 | InOffice | 65.78 | No |
FengYuan | Supervisor | Male | 57 | Dimission | 50.04 | No |
ZhouYisan | Supervisor | Male | 41 | Inoffice | 54.72 | No |
DengYunfeng | Supervisor | Male | 46 | InOffice | 54.61 | No |
ChengRui | DeputyGeneralManager | Male | 47 | Inoffice | 67.93 | No |
LuoBaoguo | DeputyGeneralManager | Male | 48 | InOffice | 50.11 | No |
HeBing | Chieflegaladviser | Female | 54 | Inoffice | 56.25 | No |
YangHanming | SecretarytotheBoard | Male | 52 | InOffice | 58.54 | No |
Total | -- | -- | -- | -- | 768.26 | -- |
VI.Performanceofdirectors'dutiesduringthereportingperiod
1.Informationoftheboardmeetingsduringthereportingperiod
Session | Conveningdate | Disclosuredate | Meetingresolution |
The15th(Provisional)meetingoftheninthBoardofDirectors | January18,2021 | January19,2021 | 1.ThemeetingexaminedandadoptedtheProposalonSigningtheSupplementaryAgreementtotheFinancialServicesAgreementwithGuangdongCommunicationsGroupFinanceCo.,Ltd.2.ThemeetingexaminedandadoptedtheProposalonRequestingtheIncreaseofAuditFeesforAnnualFinancialReports.3.ThemeetingexaminedandadoptedtheProposalontheCapitalIncreaseProjectofYuegaoCapitalInvestment(Hengqin)Co.,Ltd.4.ThemeetingexaminedandadoptedtheProposalforHolding2021FirstProvisionalShareholders'GeneralMeeting. |
The16th(Provisional)meetingoftheninthBoardofDirectors | March25,2021 | March26,2021 | 1.ThemeetingexaminedandadoptedoftheProposalonChangesinAccountingPolicies.2.ThemeetingexaminedandadoptedtheProposalConcerningProvisionforimpairmentofassets.3.ThemeetingexaminedandadoptedtheProposalConcerningFinalAccountingReportfor2020.4.ThemeetingexaminedandadoptedtheProposalConcerningPreplanforProfitDistributionfor2020.5.ThemeetingexaminedandadoptedtheProposalConcerningOverallbudgetreportoftheCompanyfor2021.6.ThemeetingexaminedandadoptedtheWorkReportoftheBoardofDirectorsfor2020.7.ThemeetingexaminedandadoptedtheBusinessReportoftheGeneralManagerfor2020.8.ThemeetingexaminedandadoptedAnnualReportfor2020anditssummary.9.ThemeetingexaminedandadoptedtheProposalthereportonevaluationoftheCompany'sinternalcontrolin2020.10.ThemeetingexaminedandadoptedtheProposalforHiringthe2021AnnualFinancialReportAuditAgency.11.ThemeetingexaminedandadoptedtheProposalforHiringthe2021InternalControlAuditInstitution.12.ThemeetingExaminedandadoptedoftheProposalonConfirmingtheContinuousRiskAssessmentReportofGuangdongCommunicationGroupFinanceCo.,Ltd.13.ThemeetingExaminedandadoptedoftheProposalontheReportontheControlofDebtRiskof2020.14.ThemeetingExaminedandadoptedoftheProposalontheReportontheanalysisofDebtRiskof2020.15.ThemeetingexaminedandadoptedtheProposalConcerningtheCompanyDailyAssociatedTransactionsPredictedof2021.16.ThemeetingexaminedandadoptedtheProposalonSupplementingtheDirectorCandidatefortheNinthBoardofDirectors.17.ThemeetingexaminedandadoptedtheProposalonBy-electionoftheMemberoftheAuditCommitteeoftheNinthBoardofDirectors.18.ThemeetingexaminedandadoptedtheProposalonthesigningofacontractfortheentrustedoperationandmanagementfrom2021to2023oftheGuangzhuNorthSectionoftheGuangdongJingzhuExpresswaybetweentheGuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,LtdandtheJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd.19.ThemeetingexaminedandadoptedtheProposalonthepreparationofGuangdongExpresswayDevelopmentCo.,Ltd's"ShareholderReturnPlanfortheNextThreeYears(2021-2023)". |
The17th(Provisional)meetingoftheninthBoardofDirectors | April26,2021 | April27,2021 | 1.ThemeetingexaminedandadoptedtheProposalconcerningtheFullTextofReportfortheFirstQuarterof2021andthetextofQuarterlyReportandapproveditsannouncement.2.emeetingexaminedandadoptedtheProposalonthescrappingofcertainfixedassetsoftheFokaiBranchCompanyofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.3.ThemeetingexaminedandadoptedtheProposalonParticipatingintheinvestmentandestablishmentofSPICYuetongQiyuanChipPowerTechnologyCo.,Ltd. |
Session | Conveningdate | Disclosuredate | Meetingresolution |
The18th(Provisional)meetingoftheninthBoardofDirectors | May31,2021 | June1,2021 | 1.ThemeetingexaminedandadoptedtheProposalontheImplementationPlanfortheImplementationoftheTenureSystemandcontractManagementforManagersbyGuangdongProvincialExpresswayDevelopmentCo.,Ltd.(Trial).2..ThemeetingexaminedandadoptedtheProposalforHolding2020AnnualShareholders'GeneralMeeting. |
The19th(Provisional)meetingoftheninthBoardofDirectors | June28,2021 | June29,2021 | 1.Themeetingexaminedandadoptedthe"roposalonChangeinAccountingEstimates",anditagreedthattheCompanywillchangethedepreciationperiodoftheSanbao-ShuikousectionoftheShenyang-HaikouNationalExpresswayfromJune1,2021. |
The20th(Provisional)meetingoftheninthBoardofDirectors | July30,2021 | July31,2021 | 1.ThemeetingexaminedandadoptedtheProposalonincreasingcapitaltoGuangdongExpresswayCo.,LtdtoparticipateintheinvestmentintheShenzhen-CenxiExpresswayZhongshanXinlongtoJiangmenLongwanSectionReconstructionandExpansionProject.2.ThemeetingexaminedandadoptedtheProposalforHolding2021SecondProvisionalShareholders'GeneralMeeting. |
The21st(Provisional)meetingoftheninthBoardofDirectors | August26,2021 | August27,2021 | 1.ThemeetingexaminedandadoptedtheProposalConcerningProvisionforimpairmentofassets.2.ThemeetingexaminedandadoptedoftheProposalonConfirmingtheContinuousRiskAssessmentReportofGuangdongCommunicationGroupFinanceCo.,Ltd.3.ThemeetingexaminedandadoptedtheProposalforsemi-annualreport2021anditssummary. |
The22nd(Provisional)meetingoftheninthBoardofDirectors | September30,2021 | October8,2021 | ThemeetingexaminedandadoptedtheProposalonAmendingPartoftheArticlesofAssociationoftheCompany. |
The23rd(Provisional)meetingoftheninthBoardofDirectors | October29,2021 | October30,2021 | 1.ThemeetingexaminedandadoptedtheProposalconcerningtheThirdQuarterof2021.2.ThemeetingexaminedandadoptedtheProposalonFormulatingtheManagementSystemofAuthorizationbytheBoardofDirectorsofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.3.ThemeetingexaminedandadoptedtheProposalonFormulatingtheDevelopmentStrategyandPlanningManagementSystemofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.4.ThemeetingexaminedandadoptedtheProposalonAmendingtheInformationDisclosureSystemforDebtFinancingInstrumentsofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.5.ThemeetingexaminedandadoptedtheProposalonAmendingtheManagementSystemforAssetImpairmentProvisionAccrualandwrite-offofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.6.ThemeetingexaminedandadoptedtheProposalforHolding2021ThirdProvisional |
Session | Conveningdate | Disclosuredate | Meetingresolution |
Shareholders'GeneralMeeting. | |||
The24th(Provisional)meetingoftheninthBoardofDirectors | December24,2021 | December25,2021 | Themeetingexaminedandadoptedthe"ProposalonDonatingtotheProvincialCharityFederation",andagreedthatthecompanywoulddonate12millionyuantotheGuangdongProvincialCharityFederation. |
2.Attendanceofdirectorsattheboardmeetingsandthegeneralmeetingofshareholders
Attendanceofdirectorsattheboardmeetingsandthegeneralmeetingofshareholders | |||||||
Nameofdirector | Numberofboardmeetingsattendedduringthereportingperiod | Numberofboardmeetingsattendedinperson | Numberofboardmeetingsattendedbymeansofcommunication | Numberofboardmeetingsattendedbyproxy | Numberofboardmeetingsabsentfrom | Whethertoattendtheboardmeetinginpersontwiceinarow | Generalmeetingsofshareholdersattended |
ZhengRunfa | 10 | 1 | 9 | 0 | 0 | No | 4 |
WangChunhua | 10 | 1 | 9 | 0 | 0 | No | 4 |
LuMing | 10 | 1 | 9 | 0 | 0 | No | 4 |
ZuoJiang | 0 | 0 | 0 | 0 | 0 | No | 0 |
ChenMin | 10 | 1 | 9 | 0 | 0 | No | 4 |
ZengZhijun | 10 | 1 | 9 | 0 | 0 | No | 4 |
YouXiaocong | 10 | 1 | 9 | 0 | 0 | No | 4 |
ZhuoWeiheng | 1 | 0 | 1 | 0 | 0 | No | 1 |
RenHua | 6 | 0 | 6 | 0 | 0 | No | 3 |
WuHao | 10 | 1 | 9 | 0 | 0 | No | 4 |
HuangHai | 10 | 1 | 9 | 0 | 0 | No | 4 |
GuNaikang | 10 | 1 | 9 | 0 | 0 | No | 4 |
BaoFangzhou | 10 | 1 | 9 | 0 | 0 | No | 4 |
ZhaoHua | 10 | 1 | 9 | 0 | 0 | No | 4 |
LiuZhonghua | 10 | 1 | 9 | 0 | 0 | No | 4 |
ZengXiaoqing | 10 | 1 | 9 | 0 | 0 | No | 4 |
ExplanationoffailuretoattendtheboardmeetinginpersontwiceinarowNone
3.Directors'objectionstorelatedmattersoftheCompanyWhetherthedirectorraisesanyobjectiontotherelevantmattersoftheCompany
□Yes√NoDuringthereportingperiod,thedirectorsdidnotraiseanyobjectiontotherelevantmattersoftheCompany.
4.Otherdescriptionsofdirectors'performanceofdutiesWhetherthedirectors'suggestionsontheCompanyhavebeenadopted
√Yes□No
Thedirector'sstatementonwhethertherelevantsuggestionsoftheCompanyhavebeenadoptedornotDuringthereportingperiod,allthedirectorsoftheCompanydiligentlyperformedthedutiesentrustedbythegeneralmeetingofshareholders,carefullyevaluatedandconsideredtheCompany'soperationmanagement,investment,corporategovernanceandothermatters,activelyproposed,scientificallydiscussedandcollectivelymadedecisionsintheboardmeeting,andputforwardmultiplesuggestionsthatmeettheCompany'sdevelopmentneedsatthepresentstage,whichwereadoptedbytheCompanyintheformofresolutionsoftheBoardofDirectors.
VII.SituationofspecialcommitteesundertheBoardofDirectorsduringthereportingperiod
Committeename | Memberinformation | Numberofmeetingsconvened | Conveningdate | Meetingcontent | Putforwardimportantopinionsandsuggestions | Otherinformationofdutyperformance | Detailsofobjections(ifany) |
AuditCommittee | ChairmanoftheCommittee:LiuZhonghua,Member:ZhangHua,LuMing | 4 | January7,2021 | 1.Reviewedthe2020financialreportpreparedbytheCompany;2.TheCPAreportedtheauditplanofthe2020financialreporttotheAuditCommittee. | TheAuditCommitteereviewedthe2020financialreportpreparedbytheCompany,andreachedconsensus:1.TheCompany'saccountingpolicieswereproperlyselected,accountingestimateswerereasonable,andnomaterialmisstatementoromissionwasfound;2.NomajorshareholderswerefoundoccupyingtheCompany'sfunds;3.Noexternalviolationguaranteeorabnormalrelatedpartytransactionswerefound;4.TheCompany'sfinancialstatementscouldbesubmittedtotheCPAfirmforannualaudit. | Anauditsupervisionletterwassubmittedtotheaccountingfirm. | |
March25,2021 | 1.Reviewedthe2020annualfinancialreportsubmittedbytheCompany'sFinanceDepartmentandissuedbycertifiedpublicaccountantswithpreliminaryauditopinions;2.ListenedtothereportsoftheProposalonHiringFinancialReportAuditInstitutionin2021andtheProposalonHiringInternalControlAuditInstitutionin2021,andreviewedrelevantinformation;3.ReviewedandapprovedtheCompany's2020InternalAuditWorkSummaryand2021InternalAuditWorkPlan;4.Reviewedand | 1.TheAuditCommitteereviewedthe2020financialreportsubmittedbytheCompany'sFinanceDepartmentandissuedbythecertifiedpublicaccountantforannualreviewwithpreliminaryauditopinions,andreachedconsensusasfollows:(1)TheauditoftheCompany's2020financialreportbythecertifiedpublicaccountantforannualreviewwasconductedinstrictaccordancewiththerelevantnormsofauditbusiness;(2)Duringpreparationoftheannualreport,theannualcertifiedpublicaccountantscommunicatedwiththeAuditCommitteeeffectively,andfullylistenedtotheopinionsoftheAuditCommittee,andconsensuswasreachedonallmajoraspectsintheannualreview;(3)Theannualfinancialreportissuedbycertifiedpublicaccountantswithpreliminaryauditopinionswasrelativelycomplete,withnomajoromissions,anditfairlyreflectedtheCompany'sfinancialpositionasofDecember31,2020,andtheproductionandoperationresultsandcashflowin2020inallmajoraspects.2.AftertheAuditCommitteelistened | Anauditsupervisionletterwassubmittedtotheaccountingfirm. |
Committeename | Memberinformation | Numberofmeetingsconvened | Conveningdate | Meetingcontent | Putforwardimportantopinionsandsuggestions | Otherinformationofdutyperformance | Detailsofobjections(ifany) |
approvedtheProposalonReviewingtheCompany's2021InternalControlEvaluationWorkPlan;5.ReviewedandapprovedtheProposalonReviewingthe2020InternalControlEvaluationReportofGuangdongExpresswayDevelopmentCo.,Ltd. | tothereportsoftheProposalonHiringFinancialReportAuditInstitutionin2021andtheProposalonHiringInternalControlAuditInstitutionin2021,andreviewedtherelevantinformation,itconcludedthatYongtuoCertifiedPublicAccountants(specialgeneralpartnership)hadtherelevantqualificationstoengageintheauditbusinessoflistedcompanies,followedtheindependent,objectiveandfairpracticestandards,andhadtheexperienceandabilitytoprovideauditservicesforlistedcompanies,couldmeettheneedsoftheCompany's2021financialreportandinternalcontrolauditwork,couldindependentlyaudittheCompany'sfinancialposition,andagreedtoemployYongtuoCertifiedPublicAccountants(specialgeneralpartnership)astheauditinstitutionandinternalcontrolauditinstitutionoftheCompany's2021financialreport,andagreedtosubmittheabovetwoproposalstotheBoardofDirectorsandthegeneralmeetingofshareholdersfordeliberation. | ||||||
March25,2021 | Itreviewedthestandardandunqualified2020financialreportsubmittedbytheCompany'sFinancialManagementDepartmentandissuedbytheaccountantforannualaudit | TheAuditCommitteereviewedthestandardandunqualified2020financialreportsubmittedbytheCompany'sFinancialManagementDepartmentandissuedbythecertifiedpublicaccountantforannualreview,andconcludedthattheCompany'sfinancialreporttruly,accuratelyandcompletelyreflectedtheoverallsituationoftheCompany,andagreedtosubmitthe2020financialreportpreparedbytheCompanyandauditedbythecertifiedpublicaccountantforannualreviewtotheBoardofDirectorsfordeliberation. | |||||
August26,2021 | ItreviewedtheWorkSummaryfortheFirsthalfandWorkPlanforthe |
Committeename | Memberinformation | Numberofmeetingsconvened | Conveningdate | Meetingcontent | Putforwardimportantopinionsandsuggestions | Otherinformationofdutyperformance | Detailsofobjections(ifany) |
SecondHalfoftheInternalAuditofGuangdongExpresswayin2021 | |||||||
RemunerationandAssessmentCommittee | ChairmanoftheCommittee:BaoFangzhou,Member:GuNaikang,HuangHai | 1 | March25,2021 | Itreviewedthe2020WorkReportoftheBoardofDirectors,2020GeneralManager'sBusinessReportand2020AnnualReport. | TheCommitteebelievedthatin2020,theCompany'sdirectorsandseniormanagementpersonnelperformedtheirdutiesdiligentlyandconscientiously,andagreedtotheremunerationofdirectorsandseniormanagementpersonneldeterminedbytheCompanyinaccordancewithrelevantsystemsandregulationsin2020. | ||
March25,2021 | ItreviewedtheImplementationPlanforGuangdongExpresswayDevelopmentCo.,Ltd.toimplementthetenuresystemofmanagersandcontractualmanagement(Trial)(hereinafterreferredtoasImplementationPlan)andothermaterials. | TheCommitteebelievesthattheImplementationPlanpreparedbytheCompanyinaccordancewiththerequirementsoftheWorkPlanonImplementingtheTenureSystemandContractualManagementofManagersinProvincialEnterprisesofGradeIIandbelow(YGZH[2020]No.227)issuedbyGuangdongProvincialState-ownedAssetsSupervisionandAdministrationCommissionconformtotheactualsituationoftheCompany;andagreedtosubmittheImplementationPlantotheBoardofDirectorsoftheCompanyfordeliberation. | |||||
December24,2021 | ItreviewedtheBudgetAllocationPlanofTotalWagesofGuangdongExpresswayHeadquartersandDirectlyAffiliatedUnitsin2021. | ||||||
StrategyCommittee | ChairmanoftheCommittee:ZhengRunfa,Member:WangChunhua,Bao | 1 | March25,2021 | ItreviewedtheCompany's14thFive-YearDevelopmentPlan(Draft),the14thFive-YearDevelopmentPlanofGuangdongCommunicationsGroupCo.,Ltd. | ItbelievedthattheCompany's14thFive-YearDevelopmentPlan(Draft)neededtobefurtherrevisedandimprovedaccordingtotheactualsituationoftheCompanyandthecompletionofthe14thFive-YearDevelopmentPlanoftheprovincialtransportationgroup. |
Committeename | Memberinformation | Numberofmeetingsconvened | Conveningdate | Meetingcontent | Putforwardimportantopinionsandsuggestions | Otherinformationofdutyperformance | Detailsofobjections(ifany) |
Fangzhou,ZhangHua,ZengXiaoqing | (AnotherDraftforComment)andothermaterials. | ||||||
RiskManagementCommittee | ChairmanoftheCommittee:ZhengRunfa;Member:GuNaikang,BaoFangzhou | 1 | December24,2021 | ItreviewedandapprovedtheLegalEnterpriseConstructionPlan(2021-2025)ofGuangdongExpresswayDevelopmentCo.,Ltd.andreviewed2021RiskAssessmentResults. | ItagreedthattheevaluationresultsobjectivelyreflectedtheriskstatusoftheCompany. |
VIII.TheworkingstatusoftheboardofsupervisorsTheboardofsupervisorsfindsoutwhetherthecompanyhasrisksduringthemonitoringactivitiesduringthereportingperiod
□Yes√NoTheSupervisoryCommitteehasnoobjectiontothesupervisionmattersduringthereportingperiod.IX.Particularsaboutemployees.
1.Numberofstaff,professionalstructureandeducationalbackground
Numberofin-servicestaffoftheparentcompany(person) | 110 |
Numberofin-servicestaffofthemainsubsidiaries(person) | 2,873 |
Thetotalnumberofthein-servicestaff(person) | 2,983 |
Thetotalnumberofstaffreceivingremunerationinthecurrentperiod(person) | 2,976 |
Retiredstaffwithchargespaidbytheparentcompanyandmainsubsidiaries(person) | 121 |
Professional | |
Category | Numberofpersons(person) |
Operatingpersonnel | 2,370 |
Salepersonnel | 0 |
TechnologyPersonnel | 388 |
Financialpersonnel | 74 |
Managementpersonnel | 151 |
Total | 2,983 |
Education | |
Category | Numberofpersons(person) |
Holdersofmaster’sdegreeorabove | 59 |
Graduatesofregularuniversity | 626 |
Graduatesofjuniorcolleges | 1,677 |
Other | 621 |
Total | 2,983 |
2.Remunerationpolicies
GuangdongExpresswayfollowstheprincipleofadheringtothebenefitorientation,takingintoaccountofefficiencyandfairness,andcombiningincentiveswithconstraints,providesactiveencouragementandpaidattentiontothelong-term.Accordingtonationallaws,regulationsandpolicies,itestablishestheannualsalary
systemforthepersoninchargeoftheenterpriseandtheperformancesalarysystemformanagementposts,adoptsthetotalsalarybudgettobeincludedintheoverallbudgetmanagement,andmakesemployees'salarycloselylinkedwithindividualperformanceandenterprisebenefitsaccordingtotheinterrelatedperformancecontributionsoflabor,managementandskills.
TheCompanyprovidesvariousbenefitsincompliancewithlawsandregulations,andemployeesenjoyvariousbenefitssuchassocialinsurance,enterpriseannuity,supplementarymedicalcare,tradeunionmutualinsurance,etc.,soastoensurethatemployeescansharedevelopmentachievementsandtherebyarousetheirworkingpassion.
3.Trainingplan
Eachbusinessdepartmentorganizesemployeestoparticipateinthebusinessposttrainingorganizedbythecompetentdepartmentofindustryandsocialprofessionaltraininginstitutionsaccordingtotheemployeejobcharacteristics,employeejobperformanceandindustrydevelopmenttrendofthedepartment.Inordertohelpenterprisesdevelopwithhighqualityandefficientlycompletethetaskofstate-ownedenterprisereform,itisplannedtocarryoutspecialtrainingonstate-ownedenterprisereform;inordertoimproveemployees'workingsatisfaction,itisplannedtocarryoutspecialtrainingonemployees'mentalhealthandphysicalhealthcare.Carryoutcontinuingeducationandtrainingforprofessionalandtechnicalpersonnel.Carryoutvarioustrainingactivitiessuchasspecialeducationandincorruptioneducationincooperationwiththepartyandthemasses,supervisionandexamination,etc.
4.Outsourcingsituation
□Applicable√NoApplicable
X.SpecificationofprofitdistributionandcapitalizingofcommonreservesFormulation,implementationoradjustmentoftheprofitdistributionpolicy,especiallythecashdividendpolicyduringthereportingperiod
□Applicable√NotapplicableDuringthereportingperiod,theCompanymadeaprofitandtheprofitavailabletoshareholdersoftheparentcompanywaspositive,butnocashdividenddistributionplanwasputforward.
□Applicable√NotapplicableProfitdistributionandcapitalizationofcapitalreserveduringthereportingperiod
√Applicable□Notapplicable
Bonussharesforeverytenshares(Shares) | 0 |
Cashdividendforeverytenshares(Yuan)(Tax-included) | 5.70 |
Atotalnumberofsharesasthedistributionbasis(shares) | 2,090,806,126 |
Cashdividendamount(yuan,includingtax | 1,191,759,491.82 |
Othermeans(suchasrepurchaseofshares)cashdividendamount(yuan) | 0.00 |
Totalcashdividend(yuan,includingtax) | 1,191,759,491.82 |
Distributableprofit(yuan) | 4,644,071,381.03 |
Proportionofcashdividendinthedistributableprofit | 100% |
Cashdividenddistributionpolicy | |
TheCompanyisinafastgrowthstage,thereforthecashdividendwillreach80%oftheprofitdistributionatleast.Cashdividenddistributionpolicy. | |
DetailsofprofitdistributionorreservecapitalizationPreplan | |
1.Limitedto50%oftheregisteredcapitalofthecompany,thenetprofitofthecompany,i.e.57,589,364.93yuan,istobeallocatedforstatutorycommonreservefund;2.Theprofitfor2021istobedistributedasfollows:1,191,759,491.82yuan.istobeallocatedasthefundfordividenddistributionfor2021.withthetotalsharesattheendof2021,i.e.,2,090,806,126shares,asthebase,cashdividendof5.70yuan(includingtax)istobedistributedforevery10shares.Theremainingundistributedprofitsaretobecarriedforwardtothenextyear.TheforeignexchangetranslationofthecashdividendsforshareholdersholdingBshareandoverseascorporateshareswillbedeterminedaccordingtoHKD:RMBbank’sMiddleratequotedbyPeople’sBankofChinaonthefirstworkingdayafter2021annualshareholders’generalmeetingmakesresolutionondividenddistribution. |
XI.ImplementationSituationofStockIncentivePlanoftheCompany,EmployeeStockOwnershipPlanorOtherEmployeeIncentiveMeasures
□Applicable√NotapplicableNoneXII.Constructionandimplementationofinternalcontrolsystemduringthereportingperiod
1.Constructionandimplementationofinternalcontrol
TheCompanyhasestablishedasoundcorporategovernancestructure,withclearresponsibilitiesofgeneralmeetingofshareholders,BoardofDirectors,BoardofSupervisorsandmanagement,establishedcorporategovernancerulescenteredbytheArticlesofAssociation,rulesofprocedureofgeneralmeetingofshareholders,BoardofSupervisors,BoardofDirectorsandspecializedcommitteesthereunder,standardizedoperationofgeneralmeetingofshareholders,BoardofDirectorsandBoardofSupervisors,heldandconvenedrelevantmeetingsinaccordancewiththeprovisionsoftheCompanyLawandtheArticlesofAssociation,andreachedlegalandvalidresolutions.ThegeneralmeetingofshareholdersisthehighestauthorityoftheCompany;theBoardofSupervisorsisresponsibleforthegeneralmeetingofshareholders,andthesupervisionofdirectorsandmanagementtoperformtheirdutiesaccordingtolawissoundandeffective.TheBoardofDirectorsshallberesponsibletothegeneralmeetingofshareholdersandexercisethebusinessdecision-makingpoweraccordingtolaw.ItisprovidedwithanAuditCommittee,theindependentdirectorsmeetthequorum,andthedecision-makingproceduresandmanagementrulesofprocedureoftheBoardofDirectorsarescientificandtransparent;themanagementisefficientandrigorousinimplementingtheresolutionsoftheBoardofDirectors.
TheCompanyhassetup10functionaldepartments,includingInvestmentDevelopmentDepartment,HumanResourcesDepartment,FinancialManagementDepartment,InfrastructureManagementDepartment,OperationandManagementDepartment,DisciplineInspectionandAuditDepartment,SecuritiesAffairsDepartment,ComprehensiveAffairsDepartment,LegalAffairsDepartmentandPartyandMassWorkDepartment.Thedistributionofpowersandresponsibilitiesandbusinessprocessesofallfunctionaldepartmentsareclearandreasonable,formingaworkingmechanismofdutyperformance,responsibilityshouldering,mutualrestrictionand
coordination.TheCompanyhasestablishedaperfectcontrolsystemforparent-subsidiarycompanies,andformedasoundinternalcontrolsystemforeachsubsidiarycompany.Meanwhile,theCompanyhasestablishedandimprovedrulesandregulationsrelatedtoriskassessment,fraudriskcontrol,informationandcommunication,andmaintainedeffectiveinternalcontrol.
TheCompanyhassetupanAuditCommitteeundertheBoardofDirectorstosupervisetheeffectiveimplementationoftheCompany'sinternalcontrolandself-evaluationofinternalcontrol.TheCompanyhassetuptheDisciplineInspectionandAuditDepartment,whichisresponsibleforsupervisingtheestablishmentandoperationoftheCompany'sinternalcontrolsystem,evaluatingtheCompany'sriskcontrolandevaluatingtheeffectivenessoftheCompany'sinternalcontrol.Ithasdefinedthestandardsofinternalcontroldefectidentification,rectificationproceduresandinternalcontrolself-evaluationprocedures,andformedaneffectiveinternalcontrolsupervisionsystem.
2.Detailsofmajorinternalcontroldefectsfoundduringthereportingperiod
□Yes√NoXIII.ManagementandcontroloftheCompany'ssubsidiariesduringthereportingperiod
□Applicable√Notapplicable
XIV.Internalcontrolself-evaluationreportorinternalcontrolauditreport
1.Self-evaluationreportoninternalcontrol
Disclosuredateofappraisalreportoninternalcontrol | March16,2022 | |
Disclosureindexofappraisalreportoninternalcontrol | www.cninfo.com.cn | |
Theratioofthetotalassetsofunitsincludedinthescopeofevaluationaccountingforthetotalassetsonthecompany'sconsolidatedfinancialstatements | 100.00% | |
Theratiooftheoperatingincomeofunitsincludedinthescopeofevaluationaccountingfortheoperatingincomeonthecompany'sconsolidatedfinancialstatements | 100.00% | |
StandardsofDefectsEvaluation | ||
Type | FinancialReport | Non-financialReport |
Qualitativestandard | ThequalitativecriteriafortheevaluationofinternalcontroldeficienciesinfinancialreportsconfirmedbytheCompanyisasfollows:Thefollowingsituations(includingbutnotlimitedto)shallbedeemedas“materialdeficiencies”intheinternalcontrolofthefinancialreport.(1)Therearemajorfraudsmadebythedirectors,orsupervisors,orseniormanagementpersonnelinthecompany’smanagementactivities;(2)Therearematerialmisstatementsinthecurrentfinancialreportbuttheinternalcontrolfailedtofindthemisstatementsduringitsoperation;(3)Thesupervisionsmadebythecompany'sauditcommitteeandtheinternalauditorganizationontheinternal | Thequalitativecriteriafortheevaluationofinternalcontroldeficienciesinnon-financialreportsconfirmedbytheCompanyisasfollows:Materialdeficiencies:seriousviolationsandbeingsentencedtoheavyfinesorneedtakingcriminalresponsibility;utterlydisregardtherulesoflaw,illegalbehaviorsintheoperationandmanagementareparticularlysevereandthecircumstanceisverybad,whichleadstothesuspensionorcessationtothecompany'sdailyoperationandmanagementactivities,andleadstotheauditreportwithadisclaimerofopinionoranegativeopinionissuedbytheCPA;thenegativenewsspreadalloverthecountry,whichcausedsevere |
controlareinvalid;(4)Thecontrolenvironmentisinvalid;(5)Thematerialdeficienciesfoundandreportedtothemanagementbutarenotcorrectedwithinareasonabletime;(6)Thereisanadministrativepunishmentfromthesecuritiesregulatoryinstitutionduetoaccountingerrors.Thefollowingsituations(includingbutnotlimitedto)shallbedeemedas“significantdeficiencies”intheinternalcontrolofthefinancialreportandthereareintensesignsforthesituationsbecoming“materialdeficiencies”:(1)Fraudsmadebystaffinkeypositions;(2)Thesupervisoryfunctiononcomplianceisinvalid,andtheviolationsofregulationsmayhaveasignificantimpactonthereliabilityofthefinancialreport;(3)Thesignificantdeficienciesreportedtothemanagementbutarenotcorrectedwithinareasonableperiod.Thefollowingsituations(includingbutnotlimitedto)shallbedeemedas“generaldeficiencies”intheinternalcontrolofthefinancialreport.(1)Fraudsmadebystaffinnonkeypositions,orbusinessoperatorsexecutetheimplementationproceduresnotstrictlyconformingtothecompany’spolicybutresultedinnosignificantimpactonthereliabilityofthefinancialreport.(2)Thesupervisoryfunctiononcomplianceisinvalid,andtheviolationsofregulationsmaynothaveasignificantimpactonthereliabilityofthefinancialreport;(3)Thegeneraldeficienciesreportedtothemanagementbutarenotcorrectedwithinareasonableperiod. | damagetothecompany’sreputation;resultedindeceaseofanumberofworkersorcitizens,orresultedindamagesthatareunabletorecovertoworkersorcitizens;reachedthecircumstance(gradeII)ofmajorenvironmentalevent.Significantdeficiencies:illegalandbeingpunished;disregardtherequirementsofthecompany’smanagementsystemandtherelevantrulesoflaw,thereareillegalactsofusingtheauthoritytoseekillegalinterestsinthework,whichsignificantlyaffecttheefficiencyandtheresultofdailyoperationandmanagementactivitiesandleadtotheauditreportwithqualifiedopinionissuedbytheCPA;thenegativenewsspreadinaregion,whichcausedthelarge-extentdamagetothecompany’sreputation;resultedindeceaseofaworkeroracitizen,orresultedindamagesthatneedlongtimetorecovertoworkersorcitizens;reachedthecircumstance(gradeⅢ)ofbigenvironmentalevent.Generaldeficiencies:minorviolations;theawarenessofmanagementunderincompliancewithlawsandregulationsisweak,lackingofbusinessandmanagementknowledge,andtherearephenomenasuchasbeingslackinperformingmanagementduties,beingpassiveandpoorlyexecutetheinstitutioninthework,whichshallaffecttheefficiencyandtheresultofdailyoperationandmanagementactivitiesandleadtosmalleffectstothecompany’smanagementgoal;thenegativenewsspreadwithinthecompany,whichcausedthelittle-extentdamagetothecompany’sreputation;shortlyaffectedthehealthoftheworkersorcitizensandtheworkersorcitizenscanberecoveredinashorttime;reachedthecircumstance(gradeⅣ)ofgeneralenvironmentalevent. | |
StandardsofQuantization | ThequalitativecriteriafortheevaluationofinternalcontroldeficienciesinfinancialreportsconfirmedbytheCompanyisasfollows:Materialdeficiencies:potentialmisstatement≧1%ofthetotalamountoftheowner’sequityorRMB200million;significantdeficiencies:0.5%ofthetotalamountoftheowner’sequityorRMB100million≤potentialmisstatement<1%ofthetotalamountoftheowner’sequityorRMB200million;general | ThequalitativecriteriafortheevaluationofinternalcontroldeficienciesinfinancialreportsconfirmedbytheCompanyisasfollows:Materialdeficiencies:potentialmisstatement≧1%ofthetotalamountoftheowner’sequityorRMB200million;significantdeficiencies:0.5%ofthetotalamountoftheowner’sequityorRMB100million≤potentialmisstatement<1%ofthetotalamountoftheowner’sequityorRMB200 |
deficiencies:potentialmisstatement<0.5%ofthetotalamountoftheowner’sequityorRMB100millionStandardsofQuantization | million;generaldeficiencies:potentialmisstatement<0.5%ofthetotalamountoftheowner’sequityorRMB100millionStandardsofQuantization | |
Numberofmajordefectsinfinancialreporting(a) | 0 | |
Numberofmajordefectsinnonfinancialreporting(a) | 0 | |
Numberofimportantdefectsinfinancialreporting(a) | 0 | |
Numberofimportantdefectsinnonfinancialreporting(a) | 0 |
2.InternalControlauditreport
√Applicable□Notapplicable
Reviewopinionsintheinternalcontrolauditreport | |
Inouropinion,GuangdongExpresswayhasmaintainedeffectivefinancialreportinternalcontrolinallmaterialaspectsaccordingtothebasicstandardsforEnterpriseinternalcontrolandrelevantregulationsendedDecember31,2021. | |
Disclosureofinternalauditreport | Disclosure |
Disclosuredateofauditreportofinternalcontrol(full-text) | March16,2022 |
Disclosureindexofauditreportofinternalcontrol(full-text) | www.cninfo.com.cn |
Internalauditreport’sopinion | Unqualifiedauditopinion |
HastheCPAsissuedaqualifiedauditor’sreportofinternalcontrol.
□Yes√NoDoestheinternalcontrolauditreportissuedbytheCPAsagreewiththeself-assessmentreportoftheBoardofDirectors
√Yes□NoXV.Rectificationofself-examinationproblemsinspecialgovernanceactionsoflistedcompaniesAccordingtotheNoticeonWellEnsuringSelf-examinationandSelf-correctionforSpecialGovernanceActionsofListedCompaniesissuedbyGuangdongSecuritiesRegulatoryBureau,theCompanycarefullycombedthecorporategovernanceincludingtheestablishmentoftheorganization,therevisionofthecompanysystem,theoperationanddecision-makingoftheorganization,thecodeofconductofcontrollingshareholdersandrelatedparties,therelatedpartytransactionsandtheinternalcontrolstandardsystem.
Uponself-examination,itisfoundthattheCompanystrictlyfollowstherequirementsoftheCompanyLaw,theSecuritiesLaw,theGovernanceGuidelinesforListedCompanies,theStockListingRulesandotherlawsandregulationstobuildandimprovethecorporategovernancestructureandimprovethestandardoperationlevel.TheCompanyhasformulatedtheArticlesofAssociation,therulesofprocedurefortheoperationofthethirdmeetings,theworkingrulesofthespecialcommitteesoftheBoardofDirectors,theworkingrulesofthegeneralmanagerandothersystems,aswellastheinternalcontrolsystemcoveringtheCompany'sfinancialmanagement,investmentmanagement,informationdisclosure,relatedpartytransactions,externalguarantee,fundraisingandotheraspectsofoperationandmanagement,andallthesesystemshavebeenwellimplemented.
ThegeneralmeetingofshareholdersperformsitsfunctionseffectivelyinstrictaccordancewiththeCompanyLaw,theArticlesofAssociationandotherrelevantregulations.TheBoardofDirectorsisresponsibletothegeneralmeetingofshareholders,bearstheultimateresponsibilityofdailyoperationandmanagement,holdsmeetingsaccordingtolegalproceduresandexercisesitspowers.Intheattitudeofbeingresponsibletoallshareholders,theBoardofSupervisorsmaintainsclosecontactandcommunicationwiththeBoardofDirectorsandmanagement,andeffectivelyperformsallsupervisorypowersandobligations.
TheCompanymustoperateindependentlyintermsofbusiness,personnel,assets,institutionsandfinanceforcontrollingshareholders.
TheCompanyrectifiedtheinsufficiencyinnumberofmeetingsheldbytheprofessionalcommitteeofthe
BoardofDirectorseveryyear.Duringthereportingperiod,theAuditCommitteeoftheBoardofDirectorsheld4meetings;theRemunerationandAssessmentCommitteeheld3meetings;theStrategyCommitteeandtheRiskManagementCommitteeheld1meetingrespectively.Communication,supervisionandverificationofinternalandexternalauditoftheCompanybytheprofessionalcommitteesoftheBoardofDirectors;itreviewstheremunerationpoliciesandprogramsofdirectorsandseniormanagementpersonneloftheCompany;studiesthestrategicdevelopmentdirectionoftheCompanyandtheestablishmentofenterpriseriskmanagementsystem,putsforwardguidingopinionsfortheestablishmentofenterpriseriskmanagementsystem,andprovidesadviceandsuggestionsformajordecisionsoftheBoardofDirectors.
V.Environmental&SocialResponsibilityI.SignificantenvironmentalissuesWhethertheCompanyoranyofitssubsidiariesisidentifiedasakeypolluterbytheenvironmentauthorities
□Yes√NoAdministrativepenaltiesforenvironmentalproblemsduringthereportingperiod
□Applicable√NotapplicableRefertootherenvironmentalinformationdisclosedbykeypollutantdischargeunitsTheCompanyanditssubsidiariesshallnotbeincludedintothelistofkeypollutantdischargeunits,suchaswater,atmosphere,soilandsoundenvironmentaccordingtotheManagementRegulationsoftheListofKeyPollutantDischargeUnits(fortrialimplementation).TheCompanyadvocatesagreenofficewithlowcarbonandenvironmentalprotection,andconscientiouslyimplementsenvironmentalprotectionlawsandregulationssuchastheEnvironmentalProtectionLawofthePeople'sRepublicofChina,theWaterPollutionPreventionLawofthePeople'sRepublicofChina,theAirPollutionPreventionLawofthePeople'sRepublicofChina,theEnvironmentalNoisePollutionPreventionLawofthePeople'sRepublicofChina,andtheSolidWastePollutionPreventionLawofthePeople'sRepublicofChinaindailyoperations.Duringthereportingperiod,nopunishmentisimposedduetoenvironmentalprotectionviolations.Measuresandeffectstakentoreduceitscarbonemissionsduringthereportingperiod
□Applicable√NotapplicableReasonsfornotdisclosingotherenvironmentalinformationNoneII.SocialresponsibilitiesIn2021,theCompanystrovetoovercometherepeatedadverseeffectsoftheepidemic,workedhardandovercamedifficulties.Whilestrictlyimplementingvariouspreventionandcontrolmeasurestoachievezeroinfectioninthecompany'ssystem,italsoadheredtothefrontlineofepidemicprevention,ensuredunblockedroads,madeoverallplanstopromotethepreventionandcontrolofthenormalizedepidemicandalltasksoftheCompany,andeffectivelypromotedthestabilizationandimprovementofeconomicoperation.
1.Inordertowellensureepidemicpreventionandcontrol,theCompany'sparticipatingandholdingexpresswaycompaniesactivelyrespondedtothehigher-levelpolicies,andthepartycommitteeandmanagementteamoftheCompanyactivelymobilizedvolunteersfromtheParty,LeagueandtheTradeUniontoparticipateintheepidemicpreventionandcontrol,effectivelypromotingthenormalizationofepidemicpreventionandcontrolwork.
2.Onmajorholidays,thetoll-freepolicy,intermittentfreereleaseandgreenchannelpreferentialpolicyforpassengercarswithlessthansevenseatsontheexpresswaycontinuetobeimplemented,andGuang-FoshanCompany,Foshan-KaipingBranch,EastGuangzhou-ZhuhaiCompanyandGuangzhou-HuizhouCompanyearnestlyachieve"awarenessestablishedinplace,personnelprovidedinplace,responsibilitiesimplementedinplaceandmeasuresassignedinplace"andsuccessfullycompletethetasksofensuringsafetyandsmoothness.
3.Activelyrespondtogovernmentpolicies,legallyprovidepreferentialandreliefpoliciesaccordingtoregulations,andreducetransportationcostsofenterprisesandpublictravelcosts.
4.Conscientiouslyimplementthegovernmenttask,andeffectivelyguaranteethesmoothoperationofthesystemaftercancelingthetransformationandswitchingofETCchargingsystemofprovincialtollstations.ThetollstationsoftheCompany'sholdingsectionsarewithsmoothtraffic,theservicepointsofUnitollExpresswayin
Guangdongoperatedorderly,thetolldisplayanddatatransmissionoftolllanesarecorrect,thelaneconfigurationiscontinuouslyoptimized,andtheETCsystemisgenerallystable.III.Consolidateandexpandtheachievementsofpovertyalleviationandruralrevitalization
TheCompanyactivelyrespondedtothecalloftheprovincialpartycommitteeandtheprovincialgovernmentforthe2021GuangdongPovertyAlleviationDay,andafterdeliberationandapprovalbytheBoardofDirectors,itdonatedRMB12milliontotheGuangdongCharityFederationinDecember2021.
VI.ImportantEventsI.Commitmentstofulfillthesituation
1.Thefulfilledcommitmentsinthereportingperiodandunder-fulfillmentcommitmentsbytheendofthereportingperiodmadebythecompany,shareholder,actualcontroller,acquirer,director,supervisor,seniormanagementpersonnelandotherrelatedparities.
√Applicable□Notapplicable
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
Commitmentonsharereform | ||||||
Commitmentintheacquisitionreportorthereportonequitychanges | ||||||
Commitmentmadeupontheassetsreplacement | GuangdongProvincialFreewayCo.,Ltd. | Performancecommitment | ThepredictednetprofitofGuangdongGuanghuiExpresswayCo.,Ltd.afterdeductingnon-recurringgainsandlossesin2020,2021and2022(hereinafterreferredtoas"predictednetprofit")isRMB652,477,500,RMB1,112,587,300andRMB1,234,200,900respectively.Accordingtothespecialauditopinionissuedbytheaccountingfirm,iftheaccumulatedrealizednetprofitofGuangdongGuangzhou-HuizhouExpresswayCo.,Ltd.attheendofanyfiscalyeardoesnotreachtheaccumulatedpredictednetprofitwithinthecompensationperiod,GuangdongProvincialFreewayCo.,Ltd.willcompensateincashasagreed. | November25,2020 | 2020-2022 | Normalperformance |
GuangdongExpressway | Commitmentonauthenticity,accuracyandcompletenessofthe | 1.Theexplanations,commitmentandinformationprovidedbytheCompanyforthistransactionareauthentic,accurateandcomplete,andtherearenofalserecords,misleadingstatementsormajoromissions.2.TheinformationprovidedbytheCompanytotheintermediariesthatprovideprofessionalservicessuchasauditing,evaluation,legalandfinancialconsultingforthistransactionisauthentic,accurateandcompleteoriginalwritteninformationorduplicate | November25,2020 | Permanentlyeffective | Normalperformance |
informationprovided | information,andtheduplicateorphotocopyoftheinformationisconsistentwithitsoriginalinformationororiginalcopy;Thesignaturesandsealsofalldocumentsareauthentic,andthelegalproceduresrequiredforsigningandsealinghavebeenfulfilledandlegalauthorizationhasbeenobtained;Therearenofalserecords,misleadingstatementsormajoromissions.3.TheCompanyguaranteesthatitwillprovidetimelyinformationaboutthistransactioninaccordancewithrelevantlawsandregulations,relevantregulationsofChinaSecuritiesRegulatoryCommissionandShenzhenStockExchange,ensuretheauthenticity,accuracyandcompletenessofsuchinformation,andguaranteethattherearenofalserecords,misleadingstatementsormajoromissions.4.TheCompanyshallbearindividualandjointlegalresponsibilitiesfortheauthenticity,accuracyandcompletenessoftheinformationprovidedordisclosedforthisexchange.Incaseofanylosscausedtoinvestorsduetoviolationoftheabovecommitments,theCompanywillbearcorrespondingliabilityforcompensationaccordingtolaw. | ||||
Alldirectors,supervisorsandseniormanagementpersonnelofGuangdongExpressway | Commitmentonauthenticity,accuracyandcompletenessoftheinformationprovided | 1.Theexplanations,commitmentandinformationprovidedbythePromiseeforthistransactionareauthentic,accurateandcomplete,andtherearenofalserecords,misleadingstatementsormajoromissions.2.TheinformationprovidedbythePromiseetotheintermediariesthatprovideprofessionalservicessuchasauditing,evaluation,legalandfinancialconsultingforthistransactionisauthentic,accurateandcompleteoriginalwritteninformationorduplicateinformation,andtheduplicateorphotocopyoftheinformationisconsistentwithitsoriginalinformationororiginalcopy;Thesignaturesandsealsofalldocumentsareauthentic,andthelegalproceduresrequiredforsigningandsealinghavebeenfulfilledandlegalauthorizationhasbeenobtained;Therearenofalserecords,misleadingstatementsormajoromissions.3.ThePromiseeguaranteesthatitwillprovidetimelyinformationaboutthistransactioninaccordancewithrelevantlawsandregulations,relevantregulationsofChinaSecuritiesRegulatoryCommissionandShenzhenStockExchange,ensuretheauthenticity,accuracyandcompletenessofsuchinformation,andguaranteethattherearenofalserecords,misleadingstatementsormajoromissions.4.Ifthistransactionissuspectedoffalserecords,misleadingstatementsormajoromissionsintheinformationprovidedordisclosed,andisputonfileforinvestigationbyjudicialorgansorbyChinaSecuritiesRegulatoryCommission,thetransferofitsshareswithinterestsinthelistedcompanywillbesuspendeduntiltheinvestigationconclusionofthecaseisobtained.5.ThePromiseeshallbearindividualandjointlegalresponsibilitiesfortheauthenticity,accuracy | November25,2020 | Permanentlyeffective | Normalperformance |
andcompletenessoftheinformationprovidedordisclosedforthisexchange.Incaseofanylosscausedtoinvestorsduetoviolationoftheabovecommitments,thePromiseewillbearcorrespondingliabilityforcompensationaccordingtolaw. | |||||
Alldirectors,supervisorsandseniormanagementpersonnelofGuangdongExpressway | Commitmentonfillingmeasurestodiluteimmediatereward | 1.Ipromisenottotransferbenefitstootherunitsorindividualswithoutcompensationorunderunfairconditions,nortodamagetheinterestsoftheCompanybyothermeans.2.Ipromisetorestrainmyjobconsumptionbehavior.3.IpromisenottousetheassetsoftheCompanytoengageinanyinvestmentandconsumptionactivitiesunrelatedtomyduties.4.IpromisethatthesalarysystemformulatedbytheBoardofDirectorsortheRemunerationCommitteeofGuangdongExpresswaywillbelinkedwiththeimplementationoftherewardfillingmeasuresofGuangdongExpressway.5.IfGuangdongExpresswayplanstoimplementequityincentive,IpromisethattheexerciseconditionsofequityincentiveofGuangdongExpresswaytobeannouncedwillbelinkedwiththeimplementationoftherewardfillingmeasures.6.IncaseofanylosscausedtoGuangdongExpresswayoritsshareholdersduetoviolationoftheabovecommitmentsorrefusaltoperformtheabovecommitments,Iwillbearcorrespondingcompensationresponsibilitiesaccordingtolaw. | November25,2020 | Permanentlyeffective | Normalperformance |
GuangdongProvincialFreewayCo.,Ltd. | Commitmentonavoidinghorizontalcompetition | 1.TheCompanyanditsholdingsubsidiarieswillnotusethecontrollingshareholder'sholdingrelationshipwithGuangdongExpresswaytoconductbusinessactivitiesthatharmthelegitimaterightsandinterestsofGuangdongExpressway,itsminorityshareholdersanditsholdingsubsidiaries.2.TheCompanyanditsholdingsubsidiarieswillnotusetheinformationobtainedfromGuangdongExpresswayanditsholdingsubsidiariestoengageinthemainbusinesscompetingwithGuangdongExpresswayoritsholdingsubsidiaries,andwillnotengageinanyactsoractivitiesthatdamageormaydamagethelegitimaterightsandinterestsofGuangdongExpressway,itsminorityshareholdersanditsholdingsubsidiaries.3.IftheCompanyanditsholdingsubsidiariestransferanytollroads,bridges,tunnelsandrelatedancillaryfacilitiesorrightsinvestedormanagedbytheCompanytoacompanyotherthanGuangdongCommunicationsGroupCo.,Ltd.andthecompanydirectlyorindirectlycontrolledbyit,GuangdongExpresswaywillbeentitledtothepreemptiverightunderthesameconditions,unlessthetransfereeisexplicitlydesignatedbytherelevantgovernmentauthoritiesunderthepremisepermittedbyrelevantlawsandregulations.4.Inthefuture,iftheCompanyanditsholding | June26,2015 | ThisletterofcommitmentisvalidfromthedateofsigningtothedatewhentheProvincialExpresswayisnolongercontrolledbythecontrollingshareholder | Normalperformance |
subsidiariesinvestintheconstructionofexpresswaysparalleltoorinthesamedirectionwithin20kmfromeachsideoftheexpresswaycontrolledbyGuangdongExpressway,GuangdongExpresswaywillenjoythepriorityofinvestmentoverGuangdongCommunicationsGroupCo.,Ltd.anditsdirectlyorindirectlycontrolledcompaniesexceptGuangdongExpresswayanditsholdingsubsidiaries,exceptfortheprojectswhoseinvestmententitiesareclearlydesignatedbytherelevantgovernmentauthoritiesunderthepremisepermittedbyrelevantlawsandregulations. | ofGuangdongExpressway | ||||
GuangdongProvincialFreewayCo.,Ltd. | Commitmentonmaintainingtheindependenceoflistedcompanies | TheCompanywillnotdamagetheindependenceofGuangdongExpresswayduetotheincreaseofsharesheldbytheCompanyafterthecompletionofthismajorassetrestructuring,andwillcontinuetomaintaintheprincipleofseparationfromGuangdongExpresswayintermsofassets,personnel,finance,organizationandbusiness,andstrictlyabidebytherelevantregulationsofChinaSecuritiesRegulatoryCommissionontheindependenceoflistedcompanies,andwillnotuseGuangdongExpresswaytoprovideguarantees,noroccupyGuangdongExpresswayfundsillegally,soastomaintainandprotecttheindependenceofGuangdongExpresswayandprotectthelegitimaterightsandinterestsofothershareholdersofGuangdongExpressway. | June26,2015 | ThisletterofcommitmentisvalidfromthedateofsigningtothedatewhentheProvincialExpresswayisnolongercontrolledbythecontrollingshareholderofGuangdongExpressway | Normalperformance |
GuangdongProvincialFreewayCo.,Ltd. | Commitmentonreducingandstandardizingrelatedtransactions | 1.Afterthecompletionofthismajorassetrestructuring,theCompanyandthecompaniesdirectlyorindirectlycontrolledbytheCompanyandotherrelatedpartieswilltrytoavoidrelatedtransactionswithGuangdongExpresswayanditsholdingsubsidiaries;Relatedtransactionsthatarereallynecessaryandunavoidablearecarriedoutinaccordancewiththeprinciplesoffairness,equityandcompensationofequalvalue.Thetransactionpriceisdeterminedatareasonablepricerecognizedbythemarket.Thetransactionapprovalproceduresandinformationdisclosure | June26,2015 | Thisletterofcommitmentisvalidfromthedateofsigningtothedate | Normalperformance |
obligationsareperformedinaccordancewithrelevantlaws,regulationsandnormativedocuments,andtheinterestsofGuangdongExpresswayanditsminorityshareholdersareeffectivelyprotected.2.TheCompanyguaranteestoexerciseshareholders'rightsandfulfillshareholders'obligationsinstrictaccordancewithrelevantlawsandregulations,rulesandnormativedocumentspromulgatedbyChinaSecuritiesRegulatoryCommission,businessrulespromulgatedbyShenzhenStockExchangeandArticlesofAssociationofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.,anditwillnotusethecontrollingpositionofGuangdongExpressway'scontrollingshareholderstoseekimproperbenefitsordamagethelegitimaterightsandinterestsofGuangdongExpresswayanditsminorityshareholders. | whentheProvincialExpresswayisnolongercontrolledbythecontrollingshareholderofGuangdongExpressway | ||||
GuangdongProvincialFreewayCo.,Ltd. | Commitmentonauthenticity,accuracyandcompletenessoftheinformationprovided | 1.TheinformationinvolvedintheexplanationsandcommitmentprovidedbytheCompanyforthistransactionareauthentic,accurateandcomplete,andtherearenofalserecords,misleadingstatementsormajoromissions.2.TheinformationprovidedbytheCompanytotheintermediariesthatprovideprofessionalservicessuchasauditing,evaluation,legalandfinancialconsultingforthistransactionisauthentic,accurateandcompleteoriginalwritteninformationorduplicateinformation,andtheduplicateorphotocopyoftheinformationisconsistentwithitsoriginalinformationororiginalcopy;Thesignaturesandsealsofalldocumentsareauthentic,andthelegalproceduresrequiredforsigningandsealinghavebeenfulfilledandlegalauthorizationhasbeenobtained;Therearenofalserecords,misleadingstatementsormajoromissions.3.TheCompanyguaranteesthatitwillprovidetimelyinformationaboutthistransactioninaccordancewithrelevantlawsandregulations,relevantregulationsofChinaSecuritiesRegulatoryCommissionandShenzhenStockExchange,ensuretheauthenticity,accuracyandcompletenessofsuchinformation,andguaranteethattherearenofalserecords,misleadingstatementsormajoromissions. | November25,2020 | Permanentlyeffective | Normalperformance |
GuangdongCommunicationsGroup | Commitmentonmaintainingtheindependence | TheCompanyandthecompaniesdirectlyorindirectlycontrolledbytheCompanyexceptGuangdongExpresswayanditsholdingsubsidiarieswillnotdamagetheindependenceofGuangdongExpresswayduetotheincreaseinthesharesofGuangdongExpresswayheldbytheCompanyandthecompaniesdirectlyorindirectlycontrolledbytheCompanyexceptGuangdong | June18,2015 | Thisletterofcommitmentisvalidfromthedateof | Normalperformance |
oflistedcompanies | Expresswayanditsholdingsubsidiariesafterthecompletionofthismajorassetrestructuring,andwillcontinuetomaintaintheprincipleofseparationfromGuangdongExpresswayintermsofassets,personnel,finance,organizationandbusiness,andstrictlyabidebytherelevantregulationsofChinaSecuritiesRegulatoryCommissionontheindependenceoflistedcompanies,andwillnotuseGuangdongExpresswaytoprovideguarantees,noroccupyGuangdongExpresswayfundsillegally,soastomaintainandprotecttheindependenceofGuangdongExpresswayandprotectthelegitimaterightsandinterestsofothershareholdersofGuangdongExpressway. | signingtothedatewhentheProvincialExpresswayisnolongercontrolledbythecontrollingshareholderofGuangdongExpressway | |||
GuangdongCommunicationsGroup | Commitmentonavoidinghorizontalcompetition | 1.TheCompanyandthecompaniesdirectlyorindirectlycontrolledbytheCompanyexceptGuangdongExpresswayanditsholdingsubsidiarieswillnotusethecontrollingshareholder'sholdingrelationshipwithGuangdongExpresswaytoconductbusinessactivitiesthatharmthelegitimaterightsandinterestsofGuangdongExpressway,itsminorityshareholdersanditsholdingsubsidiaries.2.TheCompanyandthecompaniesdirectlyorindirectlycontrolledbytheCompanyexceptGuangdongExpresswayanditsholdingsubsidiarieswillnotusetheinformationobtainedfromGuangdongExpresswayanditsholdingsubsidiariestoengageinthemainbusinesscompetingwithGuangdongExpresswayoritsholdingsubsidiaries,andwillnotengageinanyactsoractivitiesthatdamageormaydamagethelegitimaterightsandinterestsofGuangdongExpressway,itsminorityshareholdersanditsholdingsubsidiaries.3.IftheCompanyandothercompaniesdirectlyorindirectlycontrolledbytheCompanyexceptGuangdongExpresswayanditsholdingsubsidiariestransferanytollroads,bridges,tunnelsandrelatedancillaryfacilitiesorinterestsinvestedormanagedbytheCompanytocompaniesotherthantheCompanydirectlyorindirectlycontrolledbytheCompany,GuangdongExpresswayshallbeentitledtothepreemptiverightunderthesameconditions,unlessthetransfereeisexplicitlydesignatedbytherelevantgovernmentauthoritiesunderthepremisepermittedbyrelevantlawsandregulations.4.Inthefuture,iftheCompanyandthecompaniesdirectlyorindirectlycontrolledbytheCompanyexcept | June26,2015 | ThisletterofcommitmentisvalidfromthedateofsigningtothedatewhentheProvincialExpresswayisnolongercontrolledbythecontrollingshareholderofGuangdong | Normalperformance |
GuangdongExpresswayanditsholdingsubsidiariesinvestintheconstructionofexpresswaysparalleltoorinthesamedirectionwithin20kmfromeachsideoftheexpresswaycontrolledbyGuangdongExpressway,GuangdongExpresswaywillbeentitledtothepriorityinvestmentrightcomparedwiththeCompanyandthecompaniesdirectlyorindirectlycontrolledbytheCompanyexceptGuangdongExpresswayanditsholdingsubsidiaries,exceptfortheprojectswhoseinvestmententitiesareclearlydesignatedbytherelevantgovernmentauthoritiesunderthepremisepermittedbyrelevantlawsandregulations. | Expressway | ||||
GuangdongCommunicationsGroup | Commitmentonreducingandstandardizingrelatedtransactions | 1.Afterthecompletionofthismajorassetrestructuring,theCompanyandothercompaniesandotherrelatedpartiesdirectlyorindirectlycontrolledbytheCompanyexceptGuangdongExpresswayanditsholdingsubsidiarieswilltrytoavoidrelatedtransactionswithGuangdongExpresswayanditsholdingsubsidiaries;Relatedtransactionsthatarereallynecessaryandunavoidablearecarriedoutinaccordancewiththeprinciplesoffairness,equityandcompensationofequalvalue.Thetransactionpriceisdeterminedatareasonablepricerecognizedbythemarket.Thetransactionapprovalproceduresandinformationdisclosureobligationsareperformedinaccordancewithrelevantlaws,regulationsandnormativedocuments,andtheinterestsofGuangdongExpresswayanditsminorityshareholdersareeffectivelyprotected.2.TheCompanyguaranteestoexerciseshareholders'rightsandfulfillshareholders'obligationsinstrictaccordancewithrelevantlawsandregulations,rulesandnormativedocumentspromulgatedbyChinaSecuritiesRegulatoryCommission,businessrulespromulgatedbyShenzhenStockExchangeandArticlesofAssociationofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.,anditwillnotusethecontrollingpositionofcontrollingshareholderstoseekimproperbenefitsordamagethelegitimaterightsandinterestsofGuangdongExpresswayanditsminorityshareholders. | June18,2015 | ThisletterofcommitmentisvalidfromthedateofsigningtothedatewhentheProvincialExpresswayisnolongercontrolledbythecontrollingshareholderofGuangdongExpressway | Normalperformance |
GuangdongCommunicationsGroup | Commitmentonauthenticity,accuracyandcompletenessofthe | 1.Theexplanations,commitmentandinformationprovidedbytheCompanyforthistransactionareauthentic,accurateandcomplete,andtherearenofalserecords,misleadingstatementsormajoromissions.2.TheinformationprovidedbytheCompanytotheintermediariesthatprovideprofessionalservicessuchasauditing,evaluation,legalandfinancialconsultingforthistransactionisauthentic,accurateandcompleteoriginalwritteninformationorduplicate | November25,2020 | Permanentlyeffective | Normalperformance |
informationprovided | information,andtheduplicateorphotocopyoftheinformationisconsistentwithitsoriginalinformationororiginalcopy;Thesignaturesandsealsofalldocumentsareauthentic,andthelegalproceduresrequiredforsigningandsealinghavebeenfulfilledandlegalauthorizationhasbeenobtained;Thevalidityoftheoriginalsofeachdocumenthasnotbeenrevokedwithinitsvalidityperiod,andsuchoriginalsareheldbytheirrespectivelegalholdersuptonow;Therearenofalserecords,misleadingstatementsormajoromissions.3.TheCompanyguaranteesthatiftherearefalserecords,misleadingstatementsormajoromissionsintheinformationprovidedordisclosedforthistransaction,whicharefiledforinvestigationbyjudicialorgansorfiledforinvestigationbyChinaSecuritiesRegulatoryCommission,beforetheinvestigationconclusionisrevealed,theCompanypromisestosuspendthetransferofshareswithinterestsinGuangdongExpressway,andsubmitthewrittenapplicationforsuspensionoftransferandthestockaccounttotheBoardofDirectorsofGuangdongExpresswaywithintwotradingdaysafterreceivingthenoticeoffilinginspection,andtheBoardofDirectorsofGuangdongExpresswaywillapplyforlockingonbehalfoftheCompanytothestockexchangeandtheregistrationandclearingcompany;Iftheapplicationforlockingisnotsubmittedwithintwotradingdays,theBoardofDirectorsofGuangdongExpresswayisauthorizedtodirectlysubmittheidentityinformationandaccountinformationoftheCompanytothestockexchangeandtheregistrationandclearingcompanyafterverificationandapplyforlocking;IftheBoardofDirectorsofGuangdongExpresswayfailstosubmittheCompany'sidentityinformationandaccountinformationtothestockexchangeandtheregistrationandclearingcompany,thestockexchangeandtheregistrationandclearingcompanyareauthorizedtodirectlylocktherelevantshares.Iftheinvestigationresultsshowthatthereareviolationsoflawsandregulations,theCompanypromisestolockinsharesandusethemvoluntarilyforcompensationarrangementsofrelevantinvestors.4.TheCompanyshallbearindividualandjointlegalresponsibilitiesfortheauthenticity,accuracyandcompletenessoftheinformationprovidedordisclosedforthisexchange.IncaseofanylosscausedtoGuangdongExpresswayorinvestorsduetoviolationoftheabovecommitments,theCompanywillbearcorrespondingliabilityforcompensationaccordingtolaw. | ||||
GuangdongCommunicatio | Commitmentonfulfillingfilling | 1.ItwillnotinterferewiththebusinessactivitiesofGuangdongExpresswaybeyondauthority,andwillnotencroachontheinterestsofGuangdongExpressway.2.IncaseofanylosscausedtoGuangdongExpresswayorinvestorsduetoviolationoftheabovecommitments,theCompany | November25,2020 | Permanentlyeffective | Normalperformanc |
nsGroup | measurestodiluteimmediatereward | willbearcorrespondingliabilityforcompensationaccordingtolaw. | e | ||
GuangdongCommunicationsGroup | CommitmentonlandandrealestateofGuanghuiExpressway | 1.ThelandoccupiedandusedbyGuangzhou-HuizhouExpresswaywithatotalareaof3,732,185.08squaremetershasnotyetobtainedtheownershipcertificate.TheCompanyundertakesthat:(1)Theownershipofthelanduserightoftheabove-mentionedlandisclearwithnodispute,andGuangzhou-HuizhouExpresswaycanlegallyoccupyandusetheabove-mentionedland;(2)Guangzhou-HuizhouExpresswaywillcontinuetoeffectivelyoccupyandusetherelevantlandbeforetheownershipcertificateisobtained,andwillnotbemateriallyadverselyaffectedthereby;(3)Afterthecompletionofthistransaction,ifGuangdongExpresswaysufferslossesasashareholderofGuangzhou-HuizhouExpressway,forlossessufferedbecauseGuangzhou-HuizhouExpresswayoccupiesandusestheabove-mentionedlandwithoutownershipcertificate,orengagesinengineeringconstructiononsuchland,theCompanywillbeartheactuallossessufferedbyGuangdongExpressway.2.ThelandoccupiedandusedbyGuangzhou-HuizhouExpresswaywithatotalareaof12,324,867.92squaremetersiscurrentlyregisteredunderthenameofGuangdongChangdaHighwayEngineeringCo.,Ltd.(nowrenamedas"PolyChangdaEngineeringCo.,Ltd.",hereinafterreferredtoas"ChangdaCompany"),ofwhich8,799,336.79squaremetersoflandhasobtainedtheownershipcertificate,andtheother3,525,531.13squaremetersoflandhasnotyetobtainedtheownershipcertificate.TheCompanypromisesthatafterthecompletionofthistransaction,ifGuangdongExpresswaysufferslossesasashareholderofGuangzhou-HuizhouExpresswayandbecauseGuanghuiExpresswayoccupiesandusesthelandregisteredunderthenameofChangdaCompany,theCompanywillbeartheactuallossessufferedbyGuangdongExpressway.3.Thepropertyownershipcertificatehasnotbeenobtainedforthepropertywithatotalareaof72,364.655squaremetersoccupiedandusedbyGuangzhou-HuizhouExpressway.TheCompanypromisesthat:(1)Theownershipoftheabove-mentionedpropertywithoutownershipcertificatecurrentlyusedbyGuanghuiExpresswayisclearwithnodispute,andGuangzhou-HuizhouExpresswaycanlegallyoccupyandusetheabove-mentionedproperty;(2)Guangzhou-HuizhouExpresswaywillcontinuetoeffectivelyoccupyandusetheabove-mentionedpropertybeforethepropertyownershipcertificateis | November25,2020 | Permanentlyeffective | Normalperformance |
obtained,andwillnotbemateriallyadverselyaffected;(3)Afterthecompletionofthistransaction,ifGuangdongExpresswaysufferslossesasashareholderofGuangzhou-HuizhouExpresswayandbecauseGuangzhou-HuizhouExpresswayoccupiesandusestheabove-mentionedpropertywithoutrelevantpropertyownershipcertificate,theCompanywillbeartheactuallossessufferedbyGuangdongExpressway. | |||||
GuangdongGuanghuiExpresswayCo.,Ltd. | Commitmentonauthenticity,accuracyandcompletenessoftheinformationprovided | 1.Theexplanations,commitmentandinformationprovidedbytheCompanyforthistransactionareauthentic,accurateandcomplete,andtherearenofalserecords,misleadingstatementsormajoromissions.2.TheinformationprovidedbytheCompanytotheintermediariesthatprovideprofessionalservicessuchasauditing,evaluation,legalandfinancialconsultingforthistransactionisauthentic,accurateandcompleteoriginalwritteninformationorduplicateinformation,andtheduplicateorphotocopyoftheinformationisconsistentwithitsoriginalinformationororiginalcopy;Thesignaturesandsealsofalldocumentsareauthentic,andthelegalproceduresrequiredforsigningandsealinghavebeenfulfilledandlegalauthorizationhasbeenobtained;Therearenofalserecords,misleadingstatementsormajoromissions.3.TheCompanyguaranteesthatitwillprovidetimelyinformationaboutthistransactioninaccordancewithrelevantlawsandregulations,relevantregulationsofChinaSecuritiesRegulatoryCommissionandShenzhenStockExchange,ensuretheauthenticity,accuracyandcompletenessofsuchinformation,andguaranteethattherearenofalserecords,misleadingstatementsormajoromissions.4.TheCompanyshallbearindividualandjointlegalresponsibilitiesfortheauthenticity,accuracyandcompletenessoftheinformationprovidedordisclosedforthisexchange.Incaseofanylosscausedtoinvestorsduetoviolationoftheabovecommitments,theCompanywillbearcorrespondingliabilityforcompensationaccordingtolaw. | November25,2020 | Permanentlyeffective | Normalperformance |
GuangdongCommunicationGroupCo.,Ltd | Othercommitment | Inordertopromotethesmoothprogressoftheissueofshares,thecashpurchaseofassetsandtheraisingofmatchingfunds(hereinafterreferredtoas"themajorassetrestructuring")approvedbyGuangdongExpresswayDevelopmentCo.,Ltd.atitssecondextraordinaryshareholders'meetingin2015,withregardtoallthelandandrealestate(hereinafterreferredtoas"relevantlandandrealestate")ownedbyGuangdongFokaiExpresswayCo.,Ltd.(hereinafterreferredtoas"FokaiCompany")andJingzhuExpresswayGuangzhuSectionCo.,Ltd.(hereinafterreferredtoas"GuangzhuEastCompany")withoutownershipcertificates(hereinafterreferredtoas"relevant | April27,2019 | Itcontinuedtopushforwardtheprogressofaccreditation,andcompleted | Normalperformance |
landandrealestate")disclosedinthereportofGuangdongExpresswayDevelopmentCo.,Ltd.onissuingsharesandpayingcashtopurchaseassetsandraisingmatchingfundsandrelatedtransactions,thecompanyundertooktourgeFokaiCompanyandGuangzhuEastCompanytogothroughtheownershipregistrationformalitiesaccordingtothefollowingplanundertheconditionthatitisconducivetosafeguardingtherightsandinterestsoflistedcompanies;Continuedtopushforwardtheprogressofaccreditation,andcompletedtheregistrationproceduresofrelevantlandandrealestateownershipwithinthreeyearsaftertherelevantpolicieswereclearandtherelevantlandandrealestatemettheconditionsforhandlingtheregistrationproceduresofownership,inaccordancewiththerelevantlawsandregulationsandtherequirementsofthecompetentgovernmentdepartments. | theregistrationproceduresofrelevantlandandrealestateownershipwithinthreeyearsaftertherelevantpolicieswereclearandtherelevantlandandrealestatemettheconditionsforhandlingtheregistrationproceduresofownership,inaccordancewiththerelevantlawsandregulationsandthe |
requirementsofthecompetentgovernmentdepartments | |||
Commitmentsmadeuponfirstissuanceorrefinance | |||
Equityincentivecommitment | |||
Othercommitmentsmadetominorityshareholders | |||
Completedontime(Y/N) | Yes |
2.Theexistenceofthecompany'sassetsorprojectsearningsforecastsandearningsreportingperiodisstillintheforecastperiod,thecompanyhasassetsorprojectsmeettheoriginalprofitforecastmadeandthereasonsexplained
√Applicable□Notapplicable
Earningsforecastassetorprojectname | Forecaststarttime | Forecastendtime | Currentforecastperformance(RMB10,000) | CurrentActualperformance(RMB10,000) | Reasonsfornotmeetingtheforecast(ifapplicable) | Originalforecastdisclosuredate | Originalforecastdisclosureindex |
GuanghuiExpresswayCo.,Ltd. | January1,2020 | December31,2022 | 111,258.73 | 110,544.44 | GuanghuiExpresswayCo.,Ltd. | January1,2020 | December31,2022 |
Commitmentsmadebythecompany’sshareholdersandcounterpartiesinthereportingyear’soperatingperformance
□Applicable√NotapplicableThecompletionofperformancecommitmentsanditsimpactontheimpairmenttestofgoodwill
In2020,Guangzhuo-HuizhouCompanyrealizedanetprofitofRMB780,305,000,withanetprofitofRMB769,232,600afterdeductingnon-recurringgainsandlosses.TheactualprofitwasRMB652,477,500,RMB116,755,100higherthantheprofitforecast,andtheprofitforecastcompletionratewas117.89%.In2021,Guangzhou-HuizhouCompanyrealizedanetprofitofRMB1,111,564,500,withanetprofitofRMB1,105,444,400afterdeductingnon-recurringgainsandlosses,theactualprofitofRMB7,142,900waslessthantheprofitforecastbyRMB1,112,587,300,andtheprofitforecastcompletionratewas99.36%.
Bytheendof2021,theaccumulatednetprofit(excludingnon-recurringgainsandlosses)wasRMB1,874,677,000,RMB109,612,200higherthantheaccumulatedprofitforecastofRMB1,765,064,800,andtheprofitforecastcompletionratewas106.21%.
II.Particularsaboutthenon-operatingoccupationoffundsbythecontrollingshareholder
□Applicable√NotapplicableNoneIII.Illegalprovisionofguaranteesforexternalparties
□Applicable√NotapplicableNoneIV.ExplanationoftheBoardofDirectorsonthelatest"Non-standardAuditReport"
□Applicable√Notapplicable
NoneV.Notesfor“non-standardauditreport”ofCPAsfirmduringtheReportingPeriodbyboardofdirectorsandsupervisoryboard
□Applicable√NotapplicableVI.Explainchangeoftheaccountingpolicy,accountingestimateandmeasurementmethodsascomparedwiththefinancialreportingoflastyear.
√Applicable□Notapplicable
(I)Changesinaccountingpolicies
1.OnDecember7,2018,theMinistryofFinanceissuedtheAccountingStandardsforBusinessEnterprisesNo.21-Lease(Revisedin2018)(No.35[2018]oftheMinistryofFinance)(hereinafterreferredtoas"NewLeasingStandards").TheSixteenthMeetingoftheNinthBoardofDirectorsoftheCompanypassedtheresolutiononMarch25,2021,andtheCompanyimplementedtheaforementionedNewLeasingStandardsfromJanuary1,2021,andchangedrelevantaccountingpoliciesaccordingtotheNewLeasingStandards.
AccordingtotheNewLeasingStandards,forthecontractsthatexistedbeforethefirstexecutiondate,theCompanyre-evaluatedwhethertheyareleasesorincludeleases.FortheleasecontractwiththeCompanyasthelessee,theCompanyonlychosetoadjustthecumulativeimpactoftheleasecontractthathasnotbeencompletedonJanuary1,2021.Forthefirstimplementationofthecumulativeimpactamountadjustment,theretainedearningsandotherrelateditemsinthefinancialstatementsatthebeginningofthecurrentperiodforfirstimplementation(thatis,January1,2021)werenotadjustedforthecomparableperiodinformation.Fortheoperatingleaseonthefirstimplementationdate,theleaseliabilitywasmeasuredasthepresentvaluediscountedbythelesseebasedontheremainingleasepaymentaccordingtotheincrementalloaninterestrateonthefirstimplementationdate.
Accordingtoeachleaseoption,theCompanymeasuredtheright-to-useassetsaccordingtotheamountequaltotheleaseliabilitiesandthenecessaryadjustmentbasedontheprepaidrent.InaccordancewiththeprovisionsofAccountingStandardsforBusinessEnterprisesNo.8-ImpairmentofAssets,theimpairmenttestoftheright-to-useassetswascarriedoutandcorrespondingaccountingtreatmentwasconducted.
Fordetails,pleaserefertoSectionX,FinancialReportVII,NotestoConsolidatedFinancialStatementItems,
29.ChangesinImportantAccountingPoliciesandAccountingEstimates.
2.AstheparticipatingcompaniesGuangdongYuepuMicrofinanceCo.,Ltd.andGuoyuanSecuritiesCo.,Ltd.implementedthenewaccountingstandardstoadjusttheiropeningbalance,theCompanyadoptedtheequitymethodtocalculateandadjusttheopeningbalanceofthe2021financialstatementsaccordingly.
Fordetails,pleaserefertoSectionX,FinancialReportVII,NotestoConsolidatedFinancialStatementItems,
29.ChangesinImportantAccountingPoliciesandAccountingEstimates.
3.Accordingtorelevantlawsandregulations,theCompanyimplementedcentralizedandunifiedmanagementofthefundsofmemberunitsthroughtheinternalsettlementcenter,andlistedthefundsinthe"Othercurrentliabilities".OnDecember30,2021,theMinistryofFinanceissuedInterpretationNo.15ofAccountingStandardsforBusinessEnterprises,whichclearlylistedtheabove-mentionedcollectedfundsintheitemof"Otherpayables",andtheCompanyadjustedandpresentedthemaccordingtotherequirementsofInterpretationNo.15.
(II)Changesinaccountingestimates
OnJune28,2021,theCompanyheldtheNineteenth(provisional)meetingoftheNinthBoardofDirectors,
whichpassedtheProposalontheChangesinAccountingEstimates,agreedthattheCompanyshouldchangethedepreciationperiodofSanbao-ShuikousectionofShenyang-HaikouNationalExpresswayfromJune1,2021,andextendthedepreciationperiodtoJune14,2044.ThefutureapplicablelawwasadoptedbytheCompanyforthismatter,andfortheimpactontheconsolidatedfinancialstatementsandthefinancialstatementsoftheparentcompany,seeSectionX,VIII.FinancialReport,NotestoConsolidatedFinancialStatementItem,29.ChangesinImportantAccountingPoliciesandAccountingEstimates.VII.Explainchangeoftheconsolidationscopeascomparedwiththefinancialreportingoflastyear.
□Applicable√NotapplicableNoneVIII.Engagement/DisengagementofCPAsCPAscurrentlyengaged
NameofthedomesticCPAs | YongTuoCertifiedPublicAccountants(SpecialGeneralPartnership) |
Remunerationfordomesticaccountingfirm(Tenthousandsyuan) | 127.20 |
SuccessiveyearsofthedomesticCPAsofferingauditingservices | 2 |
NameofCPA | ShiShaoyu,HuangZhiyan |
Continuousyearsofauditservicesofcertifiedpublicaccountantsofdomesticpublicaccountingfirms | 1-2years |
NameoftheOverseasCPAs(Ifany) | None |
Remumerationforoverseasaccountingfirm(Tenthousandsyuan)(Ifany) | 0 |
SuccessiveyearsoftheoverseasCPAsofferingauditingservices(Ifany) | None |
NameofCPA(Ifany) | None |
Continuousyearsofauditservicesofcertifiedpublicaccountantsofoverseaspublicaccountingfirms(ifany) | None |
HastheCPAsbeenchangedinthecurrentperiod
□Yes√NoAdetailedexplanationofthechangeofemploymentandaccountingfirm
□Applicable√NotapplicableIX.SituationofFacingListingSuspensionandListingTerminationaftertheDisclosureoftheYearlyReport
□Applicable√Notapplicable
X.RelevantMattersofBankruptcyReorganization
□Applicable√NotapplicableNoneXI.MattersofImportantLawsuitandArbitration
□Applicable√NotapplicableNone
XII.SituationofPunishmentandRectification
□Applicable√Notapplicable
NoneXIII.CreditConditionoftheCompanyanditsControllingShareholdersandActualControllers
□Applicable√NotapplicableXIV.Materialrelatedtransactions
1.Relatedtransactionsinconnectionwithdailyoperation
□Applicable√NotapplicableNone
2.Related-partytransactionsarisingfromassetacquisitionorsale
□Applicable√NotapplicableNone.Related-partytransitionswithjointinvestments
□Applicable√NotapplicableNone
4.Creditsandliabilitieswithrelatedparties
□Applicable√NotapplicableNone
5.Transactionswithrelatedfinancecompany,especiallyonethatiscontrolledbytheCompany
√Applicable□Notapplicable
Depositbusiness
Relatedparty | Relationship | Maximumdailydepositlimit(10,000) | Depositinterestraterange | Beginningbalance(10,000) | Theamountofthisperiod | Endingbalance(10,000) | |
Totaldepositamount(10,000) | Totalamountiswithdrawnforthisperiod(10,000) |
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 300,000 | 1.725%-3.57% | 103,110.58 | 1,041,351.2 | 992,361.43 | 152,100.35 |
Loanbusiness
Relatedparty | Relationship | Loanlimit(10,000) | Loantinterestraterange | Beginningbalance(10,000) | Theamountofthisperiod | Endingbalance(10,000) | |
Totalloanamountofthecurrentperiod(10,000) | Totalrepaymentamountofthecurrentperiod(10,000) | ||||||
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 400,000 | 3.15%-3.75% | 20,000 | 20,000 | 20,000 | 20,000 |
Creditextensionorotherfinancialservices
Relatedparty | Relationship | Businesstype | Totalamount(10,000) | Actualamountincurred(10,000) |
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | Creditextension | 220,000 | 20,000 |
6.TransactionsbetweenthefinancialcompanycontrolledbytheCompanyandrelatedparties
□Applicable√NotapplicableThereisnodeposit,loan,creditorotherfinancialbusinessbetweenthefinancialcompanycontrolledbytheCompanyandrelatedparties.
7.Othersignificantrelated-partytransactions
√Applicable□Notapplicable
1.The15th(Provisional)MeetingoftheNinthBoardofDirectorsandtheFirstprovisionalShareholders'GeneralMeetingof2021oftheCompanyexaminedandadoptedtheProposalonSigningtheSupplementaryAgreementtotheFinancialServicesAgreementwithGuangdongCommunicationsGroupFinanceCo.,Ltd.
2.The16th(Provisional)MeetingoftheNinthBoardofDirectorsoftheCompanyexaminedandadoptedtheProposalConcerningtheCompanyDailyAssociatedTransactionsPredictedof2021.Agreeonthepredicteddailyassociatedtransactionsforthecompanyheadquarters,wholly-ownedandholdingsubsidiariesof2021,whoseamountintotalisRMB29.2285million.
3.The16th(Provisional)MeetingoftheNinthBoardofDirectorsoftheCompanyexaminedandadoptedtheProposalonthesigningofacontractfortheentrustedoperationandmanagementfrom2021to2023ofthe
GuangzhuNorthSectionoftheGuangdongJingzhuExpresswaybetweentheGuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,LtdandtheJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd."It’sagreedthattheJingzhuExpresswayGuangzhuNorthSectionCo.,LtdandtheGuangdongJingzhuNorthSectionCo.,Ltdsignthe"EntrustedOperationandManagementContractfor2021-2023forGuangdongJingzhuExpresswayGuangzhuNorthSection",withthetotalcontractamountnotexceeding75millionyuan.
4.The20th(Provisional)MeetingoftheNinthBoardofDirectorsandtheSecondprovisionalShareholders'GeneralMeetingof2021oftheCompanyexaminedandadoptedtheProposaltheProposalonincreasingcapitaltoGuangdongJiangzhongExpresswayCo.,Ltd.toparticipateintheinvestmentintheshenzhen-CenxiExpresswayZhongshanXinlongtoJiangmenLongwanSectionReconstructionandExpansionProject.
1.AgreedtotheCompany’scapitalincreasetoGuangdongJiangzhongExpresswayCo.,LtdtoparticipateintheinvestmentintheShenzhen-CenxiExpresswayZhongshanXinlong-JiangmenLongwanSectionReconstructionandExpansionProject;
2.It’sagreedthattheCompanyshallbaseontheestimatedinvestmentamountof10.697billionyuaninthepreliminarydesignofthereconstructionandexpansionprojectapprovedbytheMinistryofTransport,andtheprojectcapitalratioshallbe35%oftheestimatedinvestmentamountoftheproject,whichis3.744billionyuan,thusthecapitalincreaseamountwillbeapproximatelyRMB562millionaccordingtoholdingequityratiothatistheCompanyholds15%equityofJiangzhongExpresswayCo.,Ltd.Thewebsitetodisclosetheinterimannouncementsonsignificantrelated-partytransactions
Descriptionofprovisionalannouncement | Dateofdisclosingprovisionalannouncement | Descriptionofthewebsitefordisclosingprovisionalannouncements |
AnnouncementofResolutionsofthe15th(Provisional)MeetingoftheNinthBoardofDirectors(AnnouncementNo.:2021-001) | January19,2021 | www.cninfo.com.cn |
Announcementofrelatedpartytransaction(AnnouncementNo.:2021-002) | January19,2021 | www.cninfo.com.cn |
AnnouncementofResolutionoftheFirstProvisionalShareholder'sMeetingof2021(AnnouncementNo.:2021-005) | February4,2021 | www.cninfo.com.cn |
AnnouncementofResolutionsofthe16th(Provisional)MeetingoftheNinthBoardofDirectors(AnnouncementNo.:2021-008) | March26,2021 | www.cninfo.com.cn |
EstimatesannouncementoftheDailyRelatedPartyTransactionof2021(AnnouncementNo.:2021-012) | March26,2021 | www.cninfo.com.cn |
Announcementonrelatedtransactionsconcerningtheentrustedoperationofthesubsidiary(AnnouncementNo.:2021-013) | March26,2021 | www.cninfo.com.cn |
Announcementofrelatedpartytransaction(AnnouncementNo.:2021-029) | July31,2021 | www.cninfo.com.cn |
AnnouncementofResolutionoftheSecondProvisionalShareholder'sMeetingof2021(AnnouncementNo.:2021-030) | August17,2021 | www.cninfo.com.cn |
XV.Significantcontractsandexecution
1.Entrustments,contractingandleasing
(1)Entrustment
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(2)Contracting
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(3)Leasing
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
2.SignificantGuarantees
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
3.SituationofEntrustingOthersforManagingSpotAsset
(1)SituationofEntrustedFinance
□Applicable√NotapplicableNone
(2)SituationofEntrustedLoans
4.Othersignificantcontract
□Applicable√NotapplicableXVI.Explanationonothersignificantevents
□Applicable√Notapplicable
None
XIV.SignificanteventofsubsidiaryoftheCompany
□Applicable√Notapplicable
VII.ChangeofsharecapitalandshareholdingofPrincipalShareholdersI.Changesinsharecapital
1.Changesinsharecapital
Inshares
Beforethechange | Increase/decrease(+,-) | AftertheChange | |||||||
Amount | Proportion | Shareallotment | Bonusshares | Capitalizationofcommonreservefund | Other | Subtotal | Quantity | Proportion | |
1.Shareswithconditionalsubscription | 439,254,717 | 21.01% | 0 | 0 | 439,254,717 | 21.01% | |||
1.State-ownedshares | 410,040,696 | 19.61% | 65,042 | 65,042 | 410,105,738 | 19.61% | |||
2.State-ownedlegalpersonshares | 21,712,738 | 1.04% | 0 | 0 | 21,712,738 | 1.04% | |||
3.Otherdomesticshares | 7,501,283 | 0.36% | -65,042 | -65,042 | 7,436,241 | 0.36% | |||
Including:DomesticLegalpersonshares | 6,965,095 | 0.33% | -101,584 | -101,584 | 6,863,511 | 0.33% | |||
Domesticnaturalpersonshares | 536,188 | 0.03% | 36,542 | 36,542 | 572,730 | 0.03% | |||
4.Foreignshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
Including:Foreignlegalpersonshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
Foreignnaturalpersonshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
II.Shareswithunconditionalsubscription | 1,651,551,409 | 78.99% | 0 | 0 | 1,651,551,409 | 78.99% | |||
1.CommonsharesinRMB | 1,302,902,734 | 62.32% | 0 | 0 | 1,302,902,734 | 62.32% | |||
2.Foreignsharesindomesticmarket | 348,648,675 | 16.68% | 0 | 0 | 348,648,675 | 16.68% | |||
3.Foreignsharesinforeignmarket | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
4.Other | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
III.Totalofcapitalshares | 2,090,806,126 | 100.00% | 0 | 0 | 2,090,806,126 | 100.00% |
Reasonsforsharechanged
√Applicable□Notapplicable
1.Duringthereportingperiod,36shareholdersrepaid65,042considerationsharesofGuangdongCommunicationsGroupCo.,Ltd.,whichwereconvertedfrom"sharesheldbydomesticlegalperson"and"sharesheldbydomesticnaturalperson"to"sharesheldbythestate".
2.Duringthereportingperiod,52,020sharesheldbydomesticlegalpersonswereconvertedintosharesheldbydomesticnaturalperson.ApprovalofChangeofShares
□Applicable√NotapplicableOwnershiptransferofsharechanges
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytodiscloseforthecompanyorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changeofshareswithlimitedsalescondition
√Applicable□Notapplicable
Inshares
ShareholderName | InitialRestrictedShares | NumberofUnrestrictedSharesThisTerm | NumberofIncreasedRestrictedSharesThisTerm | RestrictedSharesintheEndoftheTerm | ReasonforRestrictedShares | DateofRestrictionRemoval |
GuangdongCommunicationGroupCo.,Ltd. | 410,040,696 | 65,042 | 410,105,738 | Thesharesforrestrictedsalesbysharereformhasnotyetbesubjecttotheproceduresforliftingtherestriction. | Unknown | |
KongLingbinandother35shareholders | 115,275 | -15,478 | 99,797 | Releaseofrestrictionsonsales | 2022-01-19 | |
FoshanShundeYunlongDevelopmentCo.,Ltd. | 369,139 | -49,564 | 319,575 | Releaseofrestrictionsonsales | 2022-01-19 |
Total | 410,525,110 | 0 | 0 | 410,525,110 | -- | -- |
II.Securitiesissueandlisting
1.ExplanationoftheSituationoftheSecurityIssue(NoPreferredShares)intheReportPeriod
□Applicable√Notapplicable
2.Changeofassetandliabilitystructurecausedbychangeoftotalcapitalsharesandstructure
□Applicable√Notapplicable
3.Abouttheexistingemployees’shares
□Applicable√Notapplicable
III.Shareholdersandactualcontrollingshareholder
1.Numberofshareholdersandshareholding
InShares
Totalnumberofcommonshareholdersattheendofthereportingperiod | 49,861 | Totalshareholdersattheendofthemonthfromthedateofdisclosingtheannualreport | 48,258 | Thetotalnumberofpreferredshareholdersvotingrightsrestoredatperiod-end(ifany)(Note8) | 0 | Totalpreferenceshareholderswithvotingrightsrecoveredatendoflastmonthbeforeannualreportdisclosed(ifany)(Note8) | 0 | |||||||
Particularsaboutsharesheldabove5%byshareholdersortoptenshareholders | ||||||||||||||
Shareholders | Natureofshareholder | Proportionofsharesheld(%) | Numberofsharesheldatperiod-end | Changesinreportingperiod | Amountofrestrictedsharesheld | Amountofun-restrictedsharesheld | Numberofsharepledged/frozen | |||||||
Stateofshare | Amount | |||||||||||||
GuangdongCommunicationGroupCo.,Ltd | State-ownedlegalperson | 24.56% | 513,485,480 | 65,042 | 410,105,738 | 103,379,742 | ||||||||
GuangdongHighwayConstructionCo.,Ltd, | State-ownedlegalperson | 22.30% | 466,325,020 | 466,325,020 | ||||||||||
ShangdongExpresswayInvestmentDevelopmentCo.,Ltd. | State-ownedlegalperson | 9.68% | 202,429,149 | 202,429,149 | ||||||||||
TibetYingyueInvestmentManagementCo.,Ltd. | State-ownedlegalperson | 4.84% | 101,214,574 | 101,214,574 | ||||||||||
GuangdongProvincialFreewayCo.,Ltd. | State-ownedlegalperson | 2.53% | 52,937,491 | 19,582,228 | 33,355,263 | |||||||||
FengWuchu | Domesticnaturalpersonshares | 1.03% | 21,587,971 | 794,118 | 21,587,971 | |||||||||
HKSCC | Overseaslegalperson | 0.93% | 19,529,631 | 19,126,258 | 19,529,631 |
HappylifeinsuranceCo.,Ltd.-Dividend | Other | 0.81% | 16,842,478 | 16,842,478 | 16,842,478 | |||||
ChinaLifeInsuranceCo.,Ltd.-Dividend-Personaldividend-005L-FH002Shen | Other | 0.76% | 15,862,165 | -25,147,190 | 15,862,165 | |||||
XinyueCo.,Ltd. | Overseaslegalperson | 0.63% | 13,201,086 | 13,201,086 | ||||||
Strategicinvestororgenerallegalpersonbecomingtop-10ordinaryshareholderduetorightsissue(ifany)(seenote3) | None | |||||||||
Relatedoracting-in-concertpartiesamongshareholdersabove | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd.,GuangdongProvincialFreewayCo.,Ltd.andXinyueCo.,Ltd.,ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. | |||||||||
Aboveshareholdersentrustingorentrustedwithvotingrights,orwaivingvotingrights | None | |||||||||
Top10shareholdersincludingthespecialaccountforrepurchase(ifany)(seenote10) | None | |||||||||
Shareholdingoftop10shareholdersofunrestrictedshares | ||||||||||
Nameoftheshareholder | Quantityofunrestrictedsharesheldattheendofthereportingperiod | Sharetype | ||||||||
Sharetype | Quantity | |||||||||
GuangdongHighwayConstructionCo.,Ltd, | 466,325,020 | RMBCommonshares | 466,325,020 | |||||||
ShangdongExpresswayInvestmentDevelopmentCo.,Ltd. | 202,429,149 | RMBCommonshares | 202,429,149 | |||||||
GuangdongCommunicationGroupCo.,Ltd | 103,379,742 | RMBCommonshares | 103,379,742 | |||||||
TibetYingyueInvestmentManagementCo.,Ltd. | 101,214,574 | RMBCommonshares | 101,214,574 | |||||||
GuangdongProvincialFreewayCo.,Ltd. | 33,355,263 | RMBCommonshares | 33,355,263 | |||||||
FengWuchu | 21,587,971 | RMBCommonshares | 19,129,108 | |||||||
Foreignsharesplacedindomestic | 2,458,863 | |||||||||
HKSCC | 19,529,631 | RMBCommonshares | 19,529,631 | |||||||
HappylifeinsuranceCo.,Ltd.-Dividend | 16,842,478 | RMBCommonshares | 16,842,478 | |||||||
ChinaLifeInsuranceCo.,Ltd.-Dividend-Personaldividend-005L-FH002Shen | 15,862,165 | RMBCommonshares | 15,862,165 |
XinyueCo.,Ltd. | 13,201,086 | Foreignsharesplacedindomestic | 13,201,086 | |
Explanationonassociatedrelationshiporconsistentactionamongthetop10shareholdersofnon-restrictednegotiablesharesandthatbetweenthetop10shareholdersofnon-restrictednegotiablesharesandtop10shareholders | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd.,GuangdongProvincialFreewayCo.,Ltd.andXinyueCo.,Ltd.,ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. | |||
Top10ordinaryshareholdersconductingsecuritiesmargintrading(ifany)(seenote4) | None |
Whethertoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod.
□Yes√NoThetoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldoftheCompanyhavenobuy–backagreementdealinginreportingperiod.
2.ControllingshareholderNatureofControllingShareholders:Localstateholding
Type:Legalperson
NameoftheControllingshareholder | Legalrepresentative/Leader | Dateofincorporation | Organizationcode | Principalbusinessactivities |
GuangdongCommunicationGroupCo.,Ltd. | DengXiaohua | June23,2000 | 91440000723838552J | Equitymanagement,organizationofassetreorganizationandoptimizedallocation,raisingfundsbymeansincludingmortgage,transferofpropertyrightsandjointstocksystemtransformation,projectinvestment,operationandmanagement,trafficinfrastructureconstruction,highwayandrailwayprojectoperationandrelevantindustries,technologicaldevelopment,application,consultationandservices,highwayandrailwaypassengerandcargotransport,shipindustry,relevantoverseasbusinesses;Valueaddedtelecommunicationservices. |
Equityinotherdomesticandforeignlistedcompaniesheldbythecontrollingshareholderbymeansofcontrolandmutualshareholdinginthereporting | GuangdongCommunicationGroupCo.,Ltd.holds74.12%equityofGuangdongYueyunTrafficCo.,Ltd.,acompanylistingHshares. |
Changesofcontrollingshareholderinreportingperiod
□Applicable√NotapplicableNochangesofcontrollingshareholderfortheCompanyinreportingperiod.3.InformationaboutthecontrollingshareholderoftheCompanyActualcontrollernature:LocalstateownedassetsmanagementActualcontrollertype:Legalperson
periodNameoftheactual
controller
Nameoftheactualcontroller | Legalrepresentative/Leader | Dateofincorporation | Organizationcode | Principalbusinessactivities |
State-ownedAssetssupervisionandadministrationCommissionofGuangdongProvincialPeople’sGovernment | LiCheng | June26,2004 | 114400007583361658 | AsanadhocorganizationdirectlyundertheGuangdongprovincialgovernment,itisauthorizedbytheGuangdongprovincialgovernmenttorepresenttheGuangdongprovincialgovernmenttoperformtheinvestor'sdutiesforthesupervisedenterprisesinaccordancewiththelaw,specializinginthesupervisionofstate-ownedassets. |
Equityofotherdomestic/foreignlistedcompanywithsharecontrollingandshareparticipationbycontrollingshareholderinreportingperiod | AsanadhocorganizationdirectlyundertheGuangdongprovincialgovernment,itisauthorizedbytheGuangdongprovincialgovernmenttorepresenttheGuangdongprovincialgovernmenttoperformtheinvestor'sdutiesforthesupervisedenterprisesinaccordancewiththelaw,specializinginthesupervisionofstate-ownedassets. |
Changesofcontrollingshareholderinreportingperiod
□Applicable√NotapplicableNochangesofcontrollingshareholderfortheCompanyinreportingperiodBlockDiagramoftheownershipandcontrolrelationsbetweenthecompanyandtheactualcontroller
Theactualcontrollercontrolsthecompanybymeansoftrustormanagingtheassetsinotherway
□Applicable√Notapplicable
4.Thecumulativenumberofsharespledgedbythecontrollingshareholderorthelargestshareholderofthecompanyanditspersonactinginconcertaccountsfor80%ofthenumberofsharesheldbythecompany?Applicable√Notapplicable
5.Particularsaboutotherlegalpersonshareholderswithover10%shareheld
√Applicable□Notapplicable
Legalpersonshareholder | Legalperson/personinchargeoftheunit | Dateoffoundation | Registercapital | Mainoperationbusinessormanagementactivities |
GuangdongHighwayConstructionCo.,Ltd. | WangKangchen | April16,1987 | 10.8billion | Highway,bridge,tunnelbridge,trafficinfrastructureconstruction,investmentandmanagement,technicalconsulting,leasingofroadconstructionmachinery;salesofconstructionmaterials, |
24.56%
24.56% | 2.53% |
GuangdongProvincialExpresswayDevelopmentCo.,Ltd
GuangdongProvincialExpresswayDevelopmentCo.,LtdGuangdongHighwayConstructionCo.,Ltd.
GuangdongHighwayConstructionCo.,Ltd.GuangdongProvinceTransportationDevelopmentCo.,Ltd
GuangdongProvinceTransportationDevelopmentCo.,Ltd
22.30%
0.10% | 22.30% |
GuangdongProvinceExpresswayCo.,Ltd.
GuangdongProvinceExpresswayCo.,Ltd. | GuangdongXinyueCo.,Ltd. | |
State-ownedAssetsSupervisionandAdministrationCommissionthepeople’sGovernmentofGuangdong
Province
State-ownedAssetsSupervisionandAdministrationCommissionthepeople’sGovernmentofGuangdong
ProvinceGuangdongCommunicationGroup
Co.,Ltd.
GuangdongCommunicationGroup
Co.,Ltd.100%
100%
0.63%
6.SituationofShareLimitationReductionofControllingShareholders,ActualControllers,RestructuringPartyandOtherCommitmentSubjects
□Applicable√Notapplicable
IV.SpecificimplementationofsharerepurchaseduringthereportingperiodProgressinimplementationofsharerepurchase
□Applicable√NotapplicableImplementationprogressofreducingrepurchasedsharesbycentralizedbidding
□Applicable√Notapplicable
VIII.SituationofthePreferredShares
□Applicable√NotapplicableTheCompanyhadnopreferredsharesinthereportingperiod.
IX.CorporateBond
√Applicable□NotapplicableI.Enterprisebond
□Applicable√NotapplicableNosuchcasesinthereportingperiod.II.Corporatebond
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
III.Debtfinancinginstrumentsofnon-financialenterprises
√Applicable□Notapplicable
1.Basicinformation
InRMB
Bondname | Bondshortname | Bondcode | Issueday | Valuedate | Dueday | Bondbalance | Interestrate | Servicingway | Trading |
GuangdongProvincialExpresswayDevelopmentCo.,Ltd.2019firstphasemedium-termnotes | 19GuangdongExpresswayMTN001 | 101900252 | February27,2019 | March1,2019 | March1,2024 | 679,025,866.59 | 4% | Duepaymentsonceayear,Theprincipalandthelastinstalmentinterestarepaidinonelumpsumontheredemptiondate. | Interbankmarket |
GuangdongProvincialExpresswayDevelopmentCo.,Ltd.2020firstphasemedium-termnotes | 20GuangdongExpresswayMTN001 | 102000367 | March13,2020 | March17,2020 | March17,2025 | 748,408,219.99 | 3% | Duepaymentsonceayear,Theprincipalandthelastinstalmentinterestarepaidinonelumpsumontheredemptiondate. | Interbankmarket |
Applicabletradingmechanism | Circulationandtransferinthenationalinter-bankbondmarket,itslistingandcirculationwillbecarriedoutinaccordancewiththerelevantregulationspromulgatedbytheNationalInterbankFundingCenter. |
Overdueandunpaidbonds
□Applicable√Notapplicable
2.Triggerandimplementationofoptionclausesandinvestorprotectionclausesoftheissuerorinvestor
□Applicable√Notapplicable
3.Informationofintermediaryagency
Nameofbondproject | Nameofintermediaryagency | OfficeAddress | Nameofsigningaccountant | Contactpersonofintermediaryagency | Tel |
19GuangdongExpresswayMTN001 | ChinaLianheCreditRatingCo.,Ltd. | JianguomenwaiStreet,ChaoyangDistrict,Beijing | No | YangTing | 010-85679696 |
20GuangdongExpresswayMTN001 | ChinaLianheCreditRatingCo.,Ltd. | JianguomenwaiStreet,ChaoyangDistrict,Beijing | No | YangTing | 010-85679696 |
Whethertheaboveagencychangesduringthereportingperiod
□Yes√No
4.Useofraisedfunds
InRMB
Theraisedfundsareusedforconstructionprojects
□Applicable√NotapplicableDuringthereportingperiod,theCompanychangedtheuseoffundsraisedfromtheabovebonds
□Applicable√Notapplicable
Nameofbondproject | Totalamountofraisedfunds | Usedamount | Unusedamount | Operationofspecialaccountforraisedfunds(ifany) | Rectificationofillegaluseofraisedfunds(ifany) | Whetheritisconsistentwiththepurpose,useplanandotheragreementsstipulatedintheprospectus |
19GuangdongExpresswayMTN001 | 680,000,000.00 | 680,000,000.00 | 0.00 | No | No | Yes |
20GuangdongExpresswayMTN001 | 750,000,000.00 | 750,000,000.00 | 0.00 | No | No | Yes |
5.Adjustmentofcreditratingresultsduringthereportingperiod
□Applicable√Notapplicable6Theimplementationandchangesofguarantee,debtrepaymentplanandotherdebtrepaymentguaranteemeasuresduringthereportingperiodandtheirimpactontherightsandinterestsofbondinvestors
□Applicable√NotapplicableIV.Convertiblebond
□Applicable√NotapplicableNosuchcasesinthereportingperiod.V.Thelosswithinthescopeofconsolidatedstatementsinthereportingperiodexceeded10%ofthenetassetsattheendofthepreviousyear
□Applicable√NotapplicableVI.Overdueinterest-bearingdebtsexceptbondsattheendofthereportingperiod
□Applicable√NotapplicableVII.Whetherthereareanyviolationsofrulesandregulationsduringthereportingperiod
□Yes√NoVIII.MainaccountingdataandfinancialindicatorsoftheCompanyinrecenttwoyearsbytheendofthereportingperiod
InRMB10,000
Items | Attheendofthereportingperiod | Attheendoflastyear | Atthesametimerateofchange |
Currentratio | 270.19% | 118.46% | 151.73% |
Debtratio | 40.02% | 48.24% | -8.22% |
Quickratio | 269.68% | 118.35% | 151.33% |
Amountofthisperiod | Amountoflastperiod | Atthesametimerateofchange | |
Netprofitafterdeductingnon-recurringprofitandloss | 169,309.16 | 70,482.16 | 140.22% |
EBITDAtotaldebtratio | 72.70% | 45.98% | 26.72% |
Timeinterestearnedratio | 11.59 | 7.65 | 51.50% |
Cashinterestguaranteetimes | 13.72 | 10.53 | 30.29% |
EBITDATimeinterestearnedratio | 15.86 | 11.39 | 39.24% |
Repaymentofdebt(%) | 446.05% | 115.11% | 330.94% |
Paymentofinterest(%) | 104.94% | 91.50% | 13.44% |
X.FinancialReportI.Auditreport
Typeofauditopinion | StandardUnqualifiedauditopinion |
Dateofsignatureofauditreport | March16,2022 |
Nameofauditfirm | YongTuoCertifiedPublicAccountants(specialgeneralpartnership) |
NamesoftheCertifiedPublicAccountants | ShiShaoyu,HuangZhiyan |
Auditors’Report
Yongzhengshenzhi(2022)No.:
ToallshareholdersofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.
I.OpinionWehaveauditedthefinancialstatementsofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.(hereinafterreferredtoas"theCompany"),whichcomprisethebalancesheetasatDecember31,2021,andtheincomestatement,thestatementofcashflowsandthestatementofchangesinowners'equityfortheyearthenendedandnotestothefinancialstatements.Inouropinion,theattachedfinancialstatementsareprepared,inallmaterialrespects,inaccordancewithAccountingStandardsforBusinessEnterprisesandpresentfairlythefinancialpositionoftheCompanyasatDecember31,2021anditsoperatingresultsandcashflowsfortheyearthenended.II.BasisforOurOpinionWeconductedourauditinaccordancewiththeAuditingStandardsforCertifiedPublicAccountantsinChina.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditor'sResponsibilitiesfortheAuditoftheFinancialStatementssectionofourreport.AccordingtotheCodeofEthicsforChineseCPA,weareindependentoftheCompanyinaccordancewiththeCodeofEthicsforChineseCPAandwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.
III.KeyAuditMatters
Keyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.Wehaveidentifiedthefollowingitemsaskeyaudititemsthatneedtobecommunicatedintheauditreport.
Depreciationoffixedassetstollroad
1.Itemdescription
Asdescribedin"NotesIII.15FixedAssetstotheFinancialStatements"and"NotesV.12FixedAssetstothe
FinancialStatements":thebookvalueofthetollroadsofGuangdongExpresswayGroupattheendof2021wasRMB9,905,476,302.88,accountingfor52.48%ofthetotalconsolidatedassets;thedepreciationamountoftollroadsin2021isRMB1,035,681,518.74,accountingfor53.68%oftheconsolidatedoperatingcost.TheGuangdongExpresswayGrouptollroadisdepreciatedaccordingtothetrafficflowmethod,andthecurrentdepreciationamountiscalculatedaccordingtotheproportionoftheactualtrafficflowinthecurrentperiodtotheestimatedremainingtotaltrafficflowintheoperationperiod.ThetotaltrafficflowduringtheoperationperiodreferstotheforecastofthetotaltrafficflowofGuangdongExpresswayGroupduringtheoperationperiod,whichisamajoraccountingestimate.Therefore,wehavedeterminedthepricinganddepreciationofthetollroadsofGuangdongExpresswayGroupasthekeyaudititems.
2.AuditresponseInresponsetotheabovekeyauditmatter,wehaveimplementedthefollowingmainauditprocedures:
(1)Understand,evaluateandtesttheinternalcontrolofthemanagementoftheCompanyonthedailymanagementandaccountingtreatmentoftollroads;
(2)CheckwhethertheactualtrafficflowdataappliedbyGuangdongExpresswayCompanyinthedepreciationcalculationoftollroadsisconsistentwiththeactualtrafficflowdataobtainedbyGuangdongExpresswayCompanyfromexternalserviceunits;
(3)Evaluatetheindependenceandprofessionalcompetenceofthethird-partyorganizationemployedbytheCompanythatcarriesouttrafficflowforecast;
(4)Understandthemethodsusedintrafficflowforecastreportsissuedbythird-partyorganizationstoforecastthetrafficflowinthefuture,andevaluatethereliabilityoftrafficflowforecastreportsbycomparingthepredictedtrafficflowforthepastyearwiththeactualtrafficflowforthatperiod;
(5)Recalculatethedepreciationofroadsandbridgestoverifytheaccuracyofthedepreciationamountofroadsandbridgesinthefinancialstatements.IV.OtherinformationThemanagementofGuangdongExpresswayCompanyisresponsibleforotherinformation.Otherinformationincludestheinformationcoveredinthe2020annualreportofGuangdongExpresswayCompany,butdoesnotincludethefinancialstatementandourauditreport.Ourauditopiniononthefinancialstatementsdoesnotcoverotherinformation,andwedonotissueanyformofverificationconclusiononotherinformation.Incombinationwithourauditofthefinancialstatements,ourresponsibilityistoreadotherinformation,andconsiderinsuchprocesswhetherotherinformationismateriallyinconsistentwiththefinancialstatementsortheinformationwelearnedduringtheaudit,orwhetherthereappearstobeamaterialmisstatement.Basedontheworkthatwehavealreadyperformed,ifwedeterminethatotherinformationcontainsmaterialmisstatements,weshouldreportsuchfact.Inthisregard,wehavenothingtoreport.
V.ResponsibilitiesofManagementandThoseChargedwithGovernancefortheFinancialStatementsTheCompany'smanagementisresponsibleforpreparingthefinancialstatementsinaccordancewiththerequirementsofAccountingStandardsforBusinessEnterprisestoachieveafairpresentation,andfordesigning,implementingandmaintaininginternalcontrolthatisnecessarytoensurethatthefinancialstatementsarefreefrommaterialmisstatements,whetherduetofraudsorerrors.Inpreparingthefinancialstatements,managementoftheCompanyisresponsibleforassessingtheCompany'sabilitytocontinueasagoingconcern,disclosingmattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlessmanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealisticalternativebuttodoso.
ThosechargedwithgovernanceareresponsibleforoverseeingtheCompany'sfinancialreportingprocess.VI.Auditor'sResponsibilitiesfortheAuditoftheFinancialStatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor'sreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewiththeauditstandardswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.
AspartofanauditinaccordancewithISAs,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,omissions,misrepresentations,ortheoverrideofinternalcontrol.
(2)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances.
(3)EvaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebymanagementoftheCompany.
(4)ConcludeontheappropriatenessofusingthegoingconcernassumptionbythemanagementoftheCompany,andconclude,basedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany'sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredtodrawattentioninourauditor'sreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditor'sreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.
(5)Evaluatetheoverallpresentation,structureandcontentofthefinancialstatements,includingthedisclosures,andwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.
(6)ObtainsufficientappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheCompanytoexpressanopiniononthefinancialstatementsandbearallliabilityfortheopinion.Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditmatters,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andtocommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersinourauditor'sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbe
communicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.
YongTuoCertifiedPublicAccountantsCo.,Ltd.(SpecialGeneralPartnership)CertifiedPublicAccountantofChina:
(projectpartner)CertifiedPublicAccountantofChina:
BeijingChinaMarch15,2022
II.FinancialstatementsCurrencyunitforthestatementsinthenotestothesefinancialstatements:RMB
1.ConsolidatedbalancesheetPreparedby:GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
December31,2021
InRMB
Items | December31,2021 | December31,2020 |
Currentasset: | ||
Monetaryfund | 2,956,404,390.55 | 2,847,398,003.89 |
Settlementprovision | ||
Outgoingcallloan | ||
Transactionalfinancialassets | ||
Derivativefinancialassets | ||
Notesreceivable | ||
Accountreceivable | 159,053,399.87 | 168,907,517.56 |
Financingofreceivables | ||
Prepayments | 5,227,647.09 | 3,607,538.01 |
Insurancereceivable | ||
Reinsurancereceivable | ||
ProvisionsofReinsurancecontractsreceivable | ||
Otheraccountreceivable | 13,761,124.23 | 60,925,367.64 |
Including:Interestreceivable | ||
Dividendreceivable | 1,205,472.90 | 2,705,472.90 |
Repurchasingoffinancialassets | ||
Inventories | 640,079.66 | 53,761.06 |
Contractassets | 5,286,462.45 | 5,452,813.90 |
Assetsheldforsales | ||
Non-currentassetduewithin1year | 2,782,974.53 | 51,745.32 |
Othercurrentasset | 21,213.96 | 27,051.69 |
Totalofcurrentassets | 3,143,177,292.34 | 3,086,423,799.07 |
Items | December31,2021 | December31,2020 |
Non-currentassets: | ||
Loansandpaymentonother’sbehalfdisbursed | ||
Creditor'srightinvestment | ||
Othercreditor'srightinvestment | ||
Long-termreceivable | ||
Longtermshareequityinvestment | 2,627,130,681.24 | 2,382,381,165.60 |
Otherequityinstrumentsinvestment | 1,577,175,826.05 | 1,737,015,528.29 |
Othernon-currentfinancialassets | ||
Propertyinvestment | 2,889,263.41 | 3,110,381.89 |
Fixedassets | 10,639,272,192.02 | 11,540,075,929.69 |
Constructioninprogress | 351,130,455.06 | 340,611,095.47 |
Productionphysicalassets | ||
Oil&gasassets | ||
Userightassets | 14,100,325.01 | Notapplicable |
Intangibleassets | 268,504,176.43 | 302,381,356.52 |
Developmentexpenses | ||
Goodwill | ||
Long-germexpensestobeamortized | 2,103,750.00 | 3,462,122.00 |
Deferredincometaxasset | 225,243,885.27 | 330,755,418.39 |
Othernon-currentasset | 25,038,952.48 | 22,361,861.19 |
Totalofnon-currentassets | 15,732,589,506.97 | 16,662,154,859.04 |
Totalofassets | 18,875,766,799.31 | 19,748,578,658.11 |
Currentliabilities | ||
Short-termloans | 200,192,500.00 | |
LoanfromCentralBank | ||
Borrowingfunds | ||
Transactionalfinancialliabilities | ||
Derivativefinancialliabilities | ||
Notespayable | ||
Accountpayable | 264,487,139.44 | 369,773,342.71 |
Advancereceipts | 10,660,208.51 | 11,309,007.41 |
Contractliabilities | 22,000.00 | 309,734.51 |
Items | December31,2021 | December31,2020 |
Sellingofrepurchasedfinancialassets | ||
Deposittakingandinterbankdeposit | ||
Entrustedtradingofsecurities | ||
Entrustedsellingofsecurities | ||
Employees’wagepayable | 19,213,631.91 | 16,726,198.13 |
Taxpayable | 164,612,512.99 | 217,748,392.78 |
Otheraccountpayable | 177,970,483.76 | 1,512,619,359.78 |
Including:Interestpayable | ||
Dividendpayable | 22,941,943.24 | 22,262,804.39 |
Feesandcommissionspayable | ||
Reinsurancefeepayable | ||
Liabilitiesheldforsales | ||
Non-currentliabilityduewithin1year | 525,644,368.26 | 266,328,017.47 |
Othercurrentliability | 726,336.48 | 648,581.64 |
Totalofcurrentliability | 1,163,336,681.35 | 2,595,655,134.43 |
Non-currentliabilities: | ||
Reservefundforinsurancecontracts | ||
Long-termloan | 4,572,621,200.00 | 4,977,438,800.00 |
Bondpayable | 1,427,434,086.58 | 1,426,488,336.65 |
Including:preferredstock | ||
Sustainabledebt | ||
Leaseliability | 2,773,459.76 | Notapplicable |
Long-termpayable | 3,461,832.74 | 40,406,172.37 |
Long-termremunerationpayabletostaff | ||
Expectedliabilities | ||
Deferredincome | 69,228,093.11 | 89,170,569.64 |
Deferredincometaxliability | 315,922,287.64 | 387,103,060.74 |
Othernon-currentliabilities | ||
Totalnon-currentliabilities | 6,391,440,959.83 | 6,920,606,939.40 |
Totalofliability | 7,554,777,641.18 | 9,516,262,073.83 |
Owners’equity |
Items | December31,2021 | December31,2020 |
Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
Otherequityinstruments | ||
Including:preferredstock | ||
Sustainabledebt | ||
Capitalreserves | 713,460,518.49 | 645,969,210.48 |
Less:Sharesinstock | ||
Othercomprehensiveincome | 192,177,466.34 | 302,895,877.65 |
Specialreserve | ||
Surplusreserves | 1,225,375,330.56 | 1,167,785,965.63 |
Commonriskprovision | ||
Retainedprofit | 4,760,618,543.78 | 3,725,679,319.35 |
Totalofowner’sequitybelongtotheparentcompany | 8,982,437,985.17 | 7,933,136,499.11 |
Minorityshareholders’equity | 2,338,551,172.96 | 2,299,180,085.17 |
Totalofowners’equity | 11,320,989,158.13 | 10,232,316,584.28 |
Totalofliabilitiesandowners’equity | 18,875,766,799.31 | 19,748,578,658.11 |
LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
2.ParentCompanyBalanceSheet
InRMB
Items | December31,2021 | December31,2020 |
Currentasset: | ||
Monetaryfund | 1,860,836,127.30 | 1,781,764,519.09 |
Transactionalfinancialassets | ||
Derivativefinancialassets | ||
Notesreceivable | ||
Accountreceivable | 24,208,692.49 | 27,004,827.41 |
Financingofreceivables | ||
Prepayments | 4,311,419.00 | 2,181,215.03 |
Otheraccountreceivable | 6,885,982.60 | 54,148,114.53 |
Including:Interestreceivable | ||
Dividendreceivable | 1,205,472.90 | 2,705,472.90 |
Inventories | ||
Contractassets | ||
Assetsheldforsales | ||
Non-currentassetduewithin1year | 278,562,652.27 | 256,279,340.60 |
Othercurrentasset | 11,067.41 | 27,051.69 |
Totalofcurrentassets | 2,174,815,941.07 | 2,121,405,068.35 |
Non-currentassets: | ||
Creditor'srightinvestment | 287,903,684.98 | |
Othercreditor'srightinvestment | ||
Long-termreceivable | ||
Longtermshareequityinvestment | 5,792,610,802.46 | 5,529,362,536.53 |
Otherequityinstrumentsinvestment | 1,577,175,826.05 | 1,737,015,528.29 |
Othernon-currentfinancialassets | ||
Propertyinvestment | 2,637,125.16 | 2,858,243.64 |
Fixedassets | 5,707,608,552.14 | 6,245,462,940.39 |
Constructioninprogress | 43,594,243.12 | 43,086,545.58 |
Productionphysicalassets | ||
Oil&gasassets | ||
Userightassets | 12,611,748.50 | Notapplicable |
Intangibleassets | 140,756,147.03 | 150,582,241.22 |
Items | December31,2021 | December31,2020 |
Developmentexpenses | ||
Goodwill | ||
Long-germexpensestobeamortized | ||
Deferredincometaxasset | 218,624,401.07 | 322,365,911.10 |
Othernon-currentasset | 14,434,283.48 | 7,089,990.48 |
Totalofnon-currentassets | 13,510,053,129.01 | 14,325,727,622.21 |
Totalofassets | 15,684,869,070.08 | 16,447,132,690.56 |
Currentliabilities | ||
Short-termloans | 200,192,500.00 | |
Transactionalfinancialliabilities | ||
Derivativefinancialliabilities | ||
Notespayable | ||
Accountpayable | 105,685,908.27 | 105,919,984.52 |
Advancereceipts | 250,984.75 | |
ContractLiabilities | ||
Employees’wagepayable | 6,825,973.81 | 6,472,802.81 |
Taxpayable | 7,330,856.79 | 9,165,801.86 |
Otheraccountpayable | 690,062,820.89 | 1,431,814,861.38 |
Including:Interestpayable | ||
Dividendpayable | ||
Liabilitiesheldforsales | ||
Non-currentliabilityduewithin1year | 456,996,690.91 | 190,331,701.48 |
Othercurrentliability | 37,299.97 | 539,618,124.00 |
Totalofcurrentliability | 1,267,190,535.39 | 2,483,515,776.05 |
Non-currentliabilities: | ||
Long-termloan | 4,058,096,200.00 | 4,389,653,800.00 |
Bondpayable | 1,427,434,086.58 | 1,426,488,336.65 |
Including:preferredstock | ||
Sustainabledebt | ||
Leaseliability | 2,445,724.58 | Notapplicable |
Long-termpayable | 3,461,832.74 | 40,406,172.37 |
Long-termremunerationpayabletostaff |
Items | December31,2021 | December31,2020 |
Expectedliabilities | ||
Deferredincome | 10,120,879.64 | 13,403,327.12 |
Deferredincometaxliability | 66,399,854.20 | 105,636,866.50 |
Othernon-currentliabilities | ||
Totalnon-currentliabilities | 5,567,958,577.74 | 5,975,588,502.64 |
Totalofliability | 6,835,149,113.13 | 8,459,104,278.69 |
Owners’equity | ||
Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
Otherequityinstruments | ||
Including:preferredstock | ||
Sustainabledebt | ||
Capitalreserves | 934,851,285.51 | 938,969,546.79 |
Less:Sharesinstock | ||
Othercomprehensiveincome | 192,177,466.34 | 302,895,877.65 |
Specialreserve | ||
Surplusreserves | 1,045,403,063.00 | 987,813,698.07 |
Retainedprofit | 4,586,482,016.10 | 3,667,543,163.36 |
Totalofowners’equity | 8,849,719,956.95 | 7,988,028,411.87 |
Totalofliabilitiesandowners’equity | 15,684,869,070.08 | 16,447,132,690.56 |
3.ConsolidatedIncomestatement
InRMB
Items | 2021 | 2020 |
I.Incomefromthekeybusiness | 5,288,057,677.93 | 3,790,348,876.26 |
Incl:Businessincome | 5,288,057,677.93 | 3,790,348,876.26 |
Interestincome | ||
Insurancefeeearned | ||
Feeandcommissionreceived | ||
II.Totalbusinesscost | 2,414,254,320.96 | 2,106,157,423.78 |
Incl:Businesscost | 1,929,512,025.56 | 1,662,223,696.13 |
Interestexpense | ||
Feeandcommissionpaid | ||
Insurancedischargepayment |
Items | 2021 | 2020 |
Netclaimamountpaid | ||
Netamountofwithdrawalofinsurancecontractreserve | ||
Insurancepolicydividendpaid | ||
Reinsuranceexpenses | ||
Businesstaxandsurcharge | 26,151,601.45 | 23,401,929.49 |
Salesexpense | ||
Administrativeexpense | 223,605,442.46 | 203,945,119.58 |
R&Dcosts | 13,270,938.73 | 404,303.70 |
Financialexpenses | 221,714,312.76 | 216,182,374.88 |
Including:Interestexpense | 282,653,629.93 | 264,407,174.38 |
Interestincome | 64,220,887.86 | 50,618,519.70 |
Add:Otherincome | 17,600,355.16 | 12,819,409.84 |
Investmentgain(“-”forloss) | 277,061,254.36 | 171,366,835.55 |
Incl:investmentgainsfromaffiliates | 227,004,893.87 | 114,517,784.14 |
Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
Gainsfromcurrencyexchange | ||
Netexposurehedgingincome | ||
Changingincomeoffairvalue | ||
Creditimpairmentloss | -1,935,337.47 | -2,457,808.51 |
Impairmentlossofassets | -2,889,394.16 | -1,231,918.94 |
Assetsdisposalincome | 3,017,370.44 | |
III.Operationalprofit(“-”forloss) | 3,166,657,605.30 | 1,864,687,970.42 |
Add:Non-operationalincome | 17,975,495.18 | 11,749,841.36 |
Less:Non-operatingexpense | 22,483,385.64 | 20,642,932.77 |
IV.Totalprofit(“-”forloss) | 3,162,149,714.84 | 1,855,794,879.01 |
Less:Incometaxexpenses | 735,365,014.56 | 491,409,872.94 |
V.Netprofit | 2,426,784,700.28 | 1,364,385,006.07 |
(I)Classificationbybusinesscontinuity | ||
1.Netcontinuingoperatingprofit | 2,426,784,700.28 | 1,364,385,006.07 |
2.Terminationofoperatingnetprofit |
Items | 2021 | 2020 |
(II)Classificationbyownership | ||
1.Netprofitattributabletotheownersofparentcompany | 1,700,406,981.99 | 867,842,774.78 |
2.Minorityshareholders’equity | 726,377,718.29 | 496,542,231.29 |
VI.Netafter-taxofothercomprehensiveincome | -110,718,411.31 | -79,297,467.25 |
Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany. | -110,718,411.31 | -79,297,467.25 |
(I)Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | -120,434,499.12 | -74,105,307.36 |
1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | ||
2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | ||
3.Changesinthefairvalueofinvestmentsinotherequityinstruments | -120,434,499.12 | -74,105,307.36 |
4.Changesinthefairvalueofthecompany’screditrisks | ||
5.Other | ||
(II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss. | 9,716,087.81 | -5,192,159.89 |
1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | 9,716,087.81 | -5,192,159.89 |
2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations |
Items | 2021 | 2020 |
5.Reserveforcashflowhedges | ||
6.Translationdifferencesincurrencyfinancialstatements | ||
7.Other | ||
NetofprofitofothercomprehensiveincomeattributabletoMinorityshareholders’equity | ||
VII.Totalcomprehensiveincome | 2,316,066,288.97 | 1,285,087,538.82 |
Totalcomprehensiveincomeattributabletotheowneroftheparentcompany | 1,589,688,570.68 | 788,545,307.53 |
Totalcomprehensiveincomeattributableminorityshareholders | 726,377,718.29 | 496,542,231.29 |
VIII.Earningspershare | ||
(I)Basicearningspershare | 0.81 | 0.42 |
(II)Dilutedearningspershare | 0.81 | 0.42 |
Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievednetprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.LegalRepresentative:ZhengRenfaGeneralManager:WangChunhua,,Personinchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
4.IncomestatementoftheParentCompany
InRMB
Items | 2021 | 2020 |
I.Incomefromthekeybusiness | 1,469,364,434.37 | 975,440,382.58 |
Incl:Businesscost | 718,634,183.97 | 655,670,622.07 |
Businesstaxandsurcharge | 8,211,382.64 | 8,077,542.21 |
Salesexpense | ||
Administrativeexpense | 117,865,388.31 | 111,210,597.86 |
R&Dexpense | 6,788,937.00 | |
Financialexpenses | 235,894,975.56 | 208,439,841.94 |
Including:Interestexpenses | 274,934,433.28 | 250,230,473.17 |
Interestincome | 39,948,340.40 | 40,734,373.10 |
Items | 2021 | 2020 |
Add:Otherincome | 4,070,892.76 | 3,249,141.80 |
Investmentgain(“-”forloss) | 1,316,869,007.46 | 1,009,976,324.53 |
Including:investmentgainsfromaffiliates | 221,639,163.75 | 343,597,391.91 |
Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
Netexposurehedgingincome | ||
Changingincomeoffairvalue | ||
Creditimpairmentloss | 93,582.00 | -93,582.00 |
Impairmentlossofassets | -2,889,394.16 | |
Assetsdisposalincome | ||
II.Operationalprofit(“-”forloss) | 1,700,113,654.95 | 1,005,173,662.83 |
Add:Non-operationalincome | 1,683,906.22 | 3,221,547.75 |
Less:Non-operationalexpenses | 13,481,250.02 | 12,774,779.05 |
III.Totalprofit(“-”forloss) | 1,688,316,311.15 | 995,620,431.53 |
Less:Incometaxexpenses | 103,909,700.85 | 63,291,303.29 |
IV.Netprofit | 1,584,406,610.30 | 932,329,128.24 |
1.Netcontinuingoperatingprofit | 1,584,406,610.30 | 932,329,128.24 |
2.Terminationofoperatingnetprofit | ||
V.Netafter-taxofothercomprehensiveincome | -110,718,411.31 | -79,297,467.25 |
(I)Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | -120,434,499.12 | -74,105,307.36 |
1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | ||
2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | ||
3.Changesinthefairvalueofinvestmentsinotherequityinstruments | -120,434,499.12 | -74,105,307.36 |
4.Changesinthefairvalueofthe |
Items | 2021 | 2020 |
company’screditrisks | ||
5.Other | ||
(II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | 9,716,087.81 | -5,192,159.89 |
1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | 9,716,087.81 | -5,192,159.89 |
2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
5.Reserveforcashflowhedges | ||
6.Translationdifferencesincurrencyfinancialstatements | ||
7.Other | ||
VI.Totalcomprehensiveincome | 1,473,688,198.99 | 853,031,660.99 |
VII.Earningspershare | ||
(I)Basicearningspershare | ||
(II)Dilutedearningspershare |
5.ConsolidatedCashflowstatement
InRMB
Items | 2021 | 2020 |
I.Cashflowsfromoperatingactivities | ||
Cashreceivedfromsalesofgoodsorrendingofservices | 5,447,910,740.15 | 3,866,637,428.50 |
Netincreaseofcustomerdepositsandcapitalkeptforbrothercompany | ||
Netincreaseofloansfromcentralbank |
Items | 2021 | 2020 |
Netincreaseofinter-bankloansfromotherfinancialbodies | ||
Cashreceivedagainstoriginalinsurancecontract | ||
Netcashreceivedfromreinsurancebusiness | ||
Netincreaseofclientdepositandinvestment | ||
Cashreceivedfrominterest,commissionchargeandcommission | ||
Netincreaseofinter-bankfundreceived | ||
Netincreaseofrepurchasingbusiness | ||
Netcashreceivedbyagentinsecuritiestrading | ||
Taxreturned | ||
Othercashreceivedfrombusinessoperation | 126,417,264.96 | 184,856,181.58 |
Sub-totalofcashinflow | 5,574,328,005.11 | 4,051,493,610.08 |
Cashpaidforpurchasingofmerchandiseandservices | 417,377,507.94 | 391,854,339.69 |
Netincreaseofclienttradeandadvance | ||
Netincreaseofsavingsincentralbankandbrothercompany | ||
Cashpaidfororiginalcontractclaim | ||
Netincreaseinfinancialassetsheldfortradingpurposes | ||
NetincreaseforOutgoingcallloan | ||
Cashpaidforinterest,processingfeeandcommission | ||
Cashpaidtostaffsorpaidforstaffs | 490,684,230.89 | 384,566,222.40 |
Taxespaid | 901,811,223.79 | 553,265,616.61 |
Othercashpaidforbusinessactivities | 94,710,321.33 | 85,620,190.33 |
Sub-totalofcashoutflowfrombusinessactivities | 1,904,583,283.95 | 1,415,306,369.03 |
Items | 2021 | 2020 |
Netcashgeneratedfrom/usedinoperatingactivities | 3,669,744,721.16 | 2,636,187,241.05 |
II.Cashflowgeneratedbyinvesting | ||
Cashreceivedfrominvestmentretrieving | 45,000,000.00 | 210,000,000.00 |
Cashreceivedasinvestmentgains | 174,741,274.88 | 162,479,782.83 |
Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 4,787,323.86 | 68,875.00 |
Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | ||
Otherinvestment-relatedcashreceived | ||
Sub-totalofcashinflowduetoinvestmentactivities | 224,528,598.74 | 372,548,657.83 |
Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 513,663,936.74 | 660,012,394.04 |
Cashpaidasinvestment | 134,650,000.00 | 224,910,442.24 |
Netincreaseofloanagainstpledge | ||
Netcashreceivedfromsubsidiariesandotheroperationalunits | ||
Othercashpaidforinvestmentactivities | ||
Sub-totalofcashoutflowduetoinvestmentactivities | 648,313,936.74 | 884,922,836.28 |
Netcashflowgeneratedbyinvestment | -423,785,338.00 | -512,374,178.45 |
III.Cashflowgeneratedbyfinancing | ||
Cashreceivedasinvestment | ||
Including:Cashreceivedasinvestmentfromminorshareholders | ||
Cashreceivedasloans | 2,124,930,000.00 | 2,169,880,000.00 |
Otherfinancing–relatedcashreceived | 140,145,195.50 | 89,083,500.00 |
Sub-totalofcashinflowfromfinancingactivities | 2,265,075,195.50 | 2,258,963,500.00 |
Items | 2021 | 2020 |
Cashtorepaydebts | 2,503,707,200.00 | 1,730,365,000.00 |
Cashpaidasdividend,profit,orinterests | 1,667,198,772.33 | 1,588,108,152.77 |
Including:Dividendandprofitpaidbysubsidiariestominorshareholders | 755,677,776.30 | 380,689,946.00 |
Othercashpaidforfinancingactivities | 1,230,750,884.93 | 1,272,832,461.00 |
Sub-totalofcashoutflowduetofinancingactivities | 5,401,656,857.26 | 4,591,305,613.77 |
Netcashflowgeneratedbyfinancing | -3,136,581,661.76 | -2,332,342,113.77 |
IV.Influenceofexchangeratealternationoncashandcashequivalents | -371,334.74 | 1,728,690.91 |
V.Netincreaseofcashandcashequivalents | 109,006,386.66 | -206,800,360.26 |
Add:balanceofcashandcashequivalentsatthebeginningofterm | 2,846,176,803.89 | 3,052,977,164.15 |
VI..Balanceofcashandcashequivalentsattheendofterm | 2,955,183,190.55 | 2,846,176,803.89 |
6.CashFlowStatementoftheParentCompany
InRMB
Items | 2021 | 2020 |
I.Cashflowsfromoperatingactivities | ||
Cashreceivedfromsalesofgoodsorrendingofservices | 1,512,002,307.36 | 993,839,736.20 |
Taxreturned | ||
Othercashreceivedfrombusinessoperation | 139,579,001.22 | 93,504,920.38 |
Sub-totalofcashinflow | 1,651,581,308.58 | 1,087,344,656.58 |
Cashpaidforpurchasingofmerchandiseandservices | 85,431,635.37 | 103,008,692.77 |
Cashpaidtostaffsorpaidforstaffs | 156,876,478.03 | 127,409,377.73 |
Taxespaid | 55,685,419.35 | 38,537,660.12 |
Othercashpaidforbusinessactivities | 89,308,303.12 | 345,450,155.26 |
Sub-totalofcashoutflowfrom | 387,301,835.87 | 614,405,885.88 |
businessactivities | ||
Netcashgeneratedfrom/usedinoperatingactivities | 1,264,279,472.71 | 472,938,770.70 |
II.Cashflowgeneratedbyinvesting | ||
Cashreceivedfrominvestmentretrieving | 310,000,000.00 | 150,000,000.00 |
Cashreceivedasinvestmentgains | 1,222,810,553.86 | 891,162,907.16 |
Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 1,359,500.00 | 7,700.00 |
Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | 4,694,628.72 | |
Otherinvestment-relatedcashreceived | ||
Sub-totalofcashinflowduetoinvestmentactivities | 1,534,170,053.86 | 1,045,865,235.88 |
Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 145,749,738.08 | 270,834,718.98 |
Cashpaidasinvestment | 1,380,489,292.00 | 1,486,620,726.24 |
Netcashreceivedfromsubsidiariesandotheroperationalunits | ||
Othercashpaidforinvestmentactivities | ||
Sub-totalofcashoutflowduetoinvestmentactivities | 1,526,239,030.08 | 1,757,455,445.22 |
Netcashflowgeneratedbyinvestment | 7,931,023.78 | -711,590,209.34 |
III.Cashflowgeneratedbyfinancing | ||
Cashreceivedasinvestment | ||
Cashreceivedasloans | 2,124,930,000.00 | 1,809,290,000.00 |
Otherfinancing–relatedashreceived | ||
Sub-totalofcashinflowfromfinancingactivities | 2,124,930,000.00 | 1,809,290,000.00 |
Cashtorepaydebts | 2,422,947,200.00 | 1,479,775,000.00 |
Cashpaidasdividend,profit,orinterests | 886,140,438.61 | 1,101,090,057.96 |
Othercashpaidforfinancing | 8,609,914.93 | 1,122,177.00 |
activities | ||
Sub-totalofcashoutflowduetofinancingactivities | 3,317,697,553.54 | 2,581,987,234.96 |
Netcashflowgeneratedbyfinancing | -1,192,767,553.54 | -772,697,234.96 |
IV.Influenceofexchangeratealternationoncashandcashequivalents | -371,334.74 | 1,728,690.91 |
V.Netincreaseofcashandcashequivalents | 79,071,608.21 | -1,009,619,982.69 |
Add:balanceofcashandcashequivalentsatthebeginningofterm | 1,780,543,319.09 | 2,790,163,301.78 |
VI..Balanceofcashandcashequivalentsattheendofterm | 1,859,614,927.30 | 1,780,543,319.09 |
7.ConsolidatedStatementonChangeinOwners’EquityAmountinthisperiod
InRMB
Items | 2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 645,969,210.48 | 302,895,877.65 | 1,167,785,965.63 | 3,725,679,319.35 | 7,933,136,499.11 | 2,299,180,085.17 | 10,232,316,584.28 | |||||||
Add:Changeofaccountingpolicy | 546,190.04 | 546,190.04 | 546,190.04 | ||||||||||||
Correctingofpreviouserrors | |||||||||||||||
Mergerofentitiesundercommoncontrol | |||||||||||||||
Other | |||||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 645,969,210.48 | 302,895,877.65 | 1,167,785,965.63 | 3,726,225,509.39 | 7,933,682,689.15 | 2,299,180,085.17 | 10,232,862,774.32 |
Items | 2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
III.Changedinthecurrentyear | 67,491,308.01 | -110,718,411.31 | 57,589,364.93 | 1,034,393,034.39 | 1,048,755,296.02 | 39,371,087.79 | 1,088,126,383.81 | ||||||||
(1)Totalcomprehensiveincome | -110,718,411.31 | 1,700,406,981.99 | 1,589,688,570.68 | 726,377,718.29 | 2,316,066,288.97 | ||||||||||
(II)Investmentordecreasingofcapitalbyowners | |||||||||||||||
1.OrdinarySharesinvestedbyshareholders | |||||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | |||||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | |||||||||||||||
4.Other |
Items | 2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
(III)Profitallotment | 57,589,364.93 | -666,013,947.60 | -608,424,582.67 | -755,677,776.30 | -1,364,102,358.97 | ||||||||||
1.Providingofsurplusreserves | 57,589,364.93 | -57,589,364.93 | |||||||||||||
2.Providingofcommonriskprovisions | |||||||||||||||
3.Allotmenttotheowners(orshareholders) | -608,424,582.67 | -608,424,582.67 | -755,677,776.30 | -1,364,102,358.97 | |||||||||||
4.Other | |||||||||||||||
(IV)Internaltransferringofowners’equity | |||||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | |||||||||||||||
2.Capitalizingofsurplusreserves(ortocapital |
Items | 2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
shares) | |||||||||||||||
3.Makinguplossesbysurplusreserves. | |||||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | |||||||||||||||
6.Other | |||||||||||||||
(V).Specialreserves | |||||||||||||||
1.Providedthisyear | |||||||||||||||
2.Usedthisterm | |||||||||||||||
(VI)Other | 67,491,30 | 67,491,308.01 | 68,671,145.80 | 136,162,453.81 |
Items | 2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
8.01 | |||||||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 713,460,518.49 | 192,177,466.34 | 1,225,375,330.56 | 4,760,618,543.78 | 8,982,437,985.17 | 2,338,551,172.96 | 11,320,989,158.13 |
Amountinlastyear
InRMB
Items | 2020 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 3,094,017,129.31 | 382,193,344.90 | 1,074,553,052.81 | 3,915,790,810.76 | 10,557,360,463.78 | 2,139,676,884.88 | 12,697,037,348.66 | |||||||
Add:Changeofaccountingpolicy | |||||||||||||||
Correctingofpreviouserrors | |||||||||||||||
Mergerofentitiesundercommoncontrol | |||||||||||||||
Other | |||||||||||||||
II.Balanceatthebeginningofcurrent | 2,090,806,126.00 | 3,094,017,129.31 | 382,193,344.90 | 1,074,553,052.81 | 3,915,790,810.76 | 10,557,360,463.78 | 2,139,676,884.88 | 12,697,037,348.66 |
Items | 2020 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
year | |||||||||||||||
III.Changedinthecurrentyear | -2,448,047,918.83 | -79,297,467.25 | 93,232,912.82 | -190,111,491.41 | -2,624,223,964.67 | 159,503,200.29 | -2,464,720,764.38 | ||||||||
(1)Totalcomprehensiveincome | -79,297,467.25 | 867,842,774.78 | 788,545,307.53 | 496,542,231.29 | 1,285,087,538.82 | ||||||||||
(II)Investmentordecreasingofcapitalbyowners | 45,432,585.00 | 43,650,915.00 | 89,083,500.00 | ||||||||||||
1.OrdinarySharesinvestedbyshareholders | |||||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | |||||||||||||||
3.Amountofshares |
Items | 2020 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
paidandaccountedasowners’equity | |||||||||||||||
4.Other | 45,432,585.00 | 43,650,915.00 | 89,083,500.00 | ||||||||||||
(III)Profitallotment | 93,232,912.82 | -1,057,954,266.19 | -964,721,353.37 | -380,689,946.00 | -1,345,411,299.37 | ||||||||||
1.Providingofsurplusreserves | 93,232,912.82 | -93,232,912.82 | |||||||||||||
2.Providingofcommonriskprovisions | |||||||||||||||
3.Allotmenttotheowners(orshareholders) | -882,320,185.17 | -882,320,185.17 | -380,689,946.00 | -1,263,010,131.17 | |||||||||||
4.Other | -82,401,168.20 | -82,401,168.20 | -82,401,168.20 | ||||||||||||
(IV)Internal |
Items | 2020 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
transferringofowners’equity | |||||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | |||||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | |||||||||||||||
3.Makinguplossesbysurplusreserves. | |||||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||||
5.Other |
Items | 2020 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
comprehensiveincomecarry-overretainedearnings | |||||||||||||||
6.Other | |||||||||||||||
(V).Specialreserves | |||||||||||||||
1.Providedthisyear | |||||||||||||||
2.Usedthisterm | |||||||||||||||
(VI)Other | -2,448,047,918.83 | -2,448,047,918.83 | 43,650,915.00 | -2,404,397,003.83 | |||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 645,969,210.48 | 302,895,877.65 | 1,167,785,965.63 | 3,725,679,319.35 | 7,933,136,499.11 | 2,299,180,085.17 | 10,232,316,584.28 |
8.Statementofchangeinowner’sEquityoftheParentCompanyAmountinthisperiod
InRMB
Items | 2021 | |||||||||||
Sharecapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 938,969,546.79 | 302,895,877.65 | 987,813,698.07 | 3,667,543,163.36 | 7,988,028,411.87 | ||||||
Add:Changeofaccountingpolicy | 546,190.04 | 546,190.04 | ||||||||||
Correctingofpreviouserrors | ||||||||||||
Other | ||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 938,969,546.79 | 302,895,877.65 | 987,813,698.07 | 3,668,089,353.40 | 7,988,574,601.91 | ||||||
III.Changedinthecurrentyear | -4,118,261.28 | -110,718,411.31 | 57,589,364.93 | 918,392,662.70 | 861,145,355.04 | |||||||
(I)Totalcomprehensiveincome | -110,718,411.31 | 1,584,406,610.30 | 1,473,688,198.99 | |||||||||
(II)Investmentordecreasingofcapitalbyowners | ||||||||||||
1.OrdinarySharesinvestedb |
Items | 2021 | |||||||||||
Sharecapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
yshareholders | ||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | ||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | ||||||||||||
4.Other | ||||||||||||
(III)Profitallotment | 57,589,364.93 | -666,013,947.60 | -608,424,582.67 | |||||||||
1.Providingofsurplusreserves | 57,589,364.93 | -57,589,364.93 | ||||||||||
2.Allotmenttotheowners(orshareholders) | -608,424,582.67 | -608,424,582.67 | ||||||||||
3.Other | ||||||||||||
(IV)Internaltransferringofowners’equity | ||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | ||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) |
Items | 2021 | |||||||||||
Sharecapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
3.Makinguplossesbysurplusreserves. | ||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | ||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | ||||||||||||
6.Other | ||||||||||||
(V)Specialreserves | ||||||||||||
1.Providedthisyear | ||||||||||||
2.Usedthisterm | ||||||||||||
(VI)Other | -4,118,261.28 | -4,118,261.28 | ||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 934,851,285.51 | 192,177,466.34 | 1,045,403,063.00 | 4,586,482,016.10 | 8,849,719,956.95 |
Amountinlastyear
InRMB
Items | 2020 | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 2,974,458,696.93 | 382,193,344.90 | 894,580,785.25 | 3,710,584,722.68 | 10,052,623,675.76 | ||||||
Add:Changeofaccountingpolicy | ||||||||||||
Correctingofpreviouserrors | ||||||||||||
Other | ||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 2,974,458,696.93 | 382,193,344.90 | 894,580,785.25 | 3,710,584,722.68 | 10,052,623,675.76 | ||||||
III.Changedinthecurrentyear | -2,035,489,150.14 | -79,297,467.25 | 93,232,912.82 | -43,041,559.32 | -2,064,595,263.89 | |||||||
(I)Totalcomprehensiveincome | -79,297,467.25 | 932,329,128.24 | 853,031,660.99 | |||||||||
(II)Investmentordecreasingofcapitalbyowners | ||||||||||||
1.OrdinarySharesinvestedbyshareholders | ||||||||||||
2.Holdersofotherequityinstr |
Items | 2020 | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
umentsinvestedcapital | ||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | ||||||||||||
4.Other | ||||||||||||
(III)Profitallotment | 93,232,912.82 | -975,553,097.99 | -882,320,185.17 | |||||||||
1.Providingofsurplusreserves | 93,232,912.82 | -93,232,912.82 | ||||||||||
2.Allotmenttotheowners(orshareholders) | -882,320,185.17 | -882,320,185.17 | ||||||||||
3.Other | ||||||||||||
(IV)Internaltransferringofowners’equity | 182,410.43 | 182,410.43 | ||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | ||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | ||||||||||||
3.Makinguplossesbysurplusreserves. |
Items | 2020 | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | ||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | ||||||||||||
6.Other | 182,410.43 | 182,410.43 | ||||||||||
(V)Specialreserves | ||||||||||||
1.Providedthisyear | ||||||||||||
2.Usedthisterm | ||||||||||||
(VI)Other | -2,035,489,150.14 | -2,035,489,150.14 | ||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 938,969,546.79 | 302,895,877.65 | 987,813,698.07 | 3,667,543,163.36 | 7,988,028,411.87 |
III.CompanyProfile
1.BasicinformationoftheIPOandsharecapitalofthecompany
1.TheCompanywasestablishedinFebruary1993,whichwasoriginallynamedasGuangdongFokaiExpresswayCo.,Ltd.OnJune30,1993,itwasrenamedasGuangdongProvincialExpresswayDevelopmentCo.,Ltd.afterreorganizationpursuanttotheapprovaloftheOfficeofJointExaminationGroupofExperimentalUnitsofShareHoldingSystemwithYLSB(1993)No.68document.Thesharecapitalstructureafterreorganizationisasfollows:
Compositionofstate-ownedshares:Theappraisednetvalueofstate-ownedassetsofGuangdongJiujiangBridgeCo.andGuangfoExpresswayCo.,Ltd.asofJanuary31,1993confirmedbyGuangdongState-ownedAssetManagementDept.,i.e.,RMB418.2136million,wasconvertedinto155.025millionshares.GuangdongExpresswayCo.investedcashofRMB115milliontosubscribefor35.9375millionshares.OtherlegalpersonsinvestedcashofRMB286.992milliontosubscribefor89.685millionshares.StaffoftheCompanyinvestedRMB87.008milliontosubscribefor27.19millionshares.ThetotalisRMB307.8375millionshares.2.PursuanttotheapprovalofGuangdongEconomicSystemReformCommitteeandGuangdongSecuritiesRegulatoryCommissionwithYTG(1996)No.67document,partoftheshareholdersofnon-state-ownedlegalpersonsharestransferred20millionnon-state-ownedlegalpersonsharestoMalaysiaYibaoEngineeringCo.,Ltd.inJune1996.
3.PursuanttotheapprovalofSecuritiesCommissionundertheStateCouncilwithWF(1996)No.24approvaldocumentandthatofGuangdongEconomicSystemReformCommitteewithYTG(1996)No.68document,theCompanyissued135milliondomesticallylistedforeigninvestmentshares(Bshares)tooverseasinvestorsatthepriceofHKD3.54(equivalenttoRMB3.8)withtheparvalueofeachsharebeingRMB1duringJunetoJuly1996.
4.PursuanttothereplyoftheMinistryofForeignTradeandEconomicCooperationofthePeople’sRepublicofChinawith(1996)WJMZYHZNo.606document,theCompanywasapprovedtobeaforeign-investedjointstockcompanylimited.5.TheCompanydistributeddividendsandcapitalizedcapitalcommonreservefortheyear1996inthefollowingmanner:TheCompanypaid1.7bonussharesforeach10sharesandcapitalizedcapitalcommonreserveon
3.3-for-10basis.
6.PursuanttotheapprovalofChinaSecuritiesRegulatoryCommittee(CSRC)withZJFZ(1997)No.486andNo.487document,theCompanyissued100millionpublicshares(Ashares)atthepriceofRMB5.41intermof“payableinfullonapplication,pro-rateplacingandsubjecttorefund”withtheparvalueofeachsharebeingRMB1inJanuary1998.7.InaccordancewiththeResolutionsofthe1999Shareholders’GeneralMeetingoftheCompanyandpursuanttotheapprovalofGuangzhouSecuritiesRegulatoryOfficeunderCSRCwithGZZJH(2000)No.99andthatofCSRCwithZJGSZ(2000)No.98,theCompanyoffered3Rightsforevery10sharesof764.256249millionsharesatthepriceofRMB11perRight.73,822,250ordinaryshareswereactuallyplacedtoall.
8.PursuanttothereplyoftheGeneralOfficeofthePeople’sGovernmentofGuangdongProvincewithYBH(2000)No.574document,thestate-ownedsharesweretransferredtoGuangdongCommunicationGroupCo.,Ltd.(GroupCo.)forholdingandmanagementwithoutcompensation.
9.PursuanttotheapprovalofShenzhenStockExchange,53.0205millionstaffsharesoftheCompany(132,722sharesheldbydirectors,supervisorsandseniorexecutivesaretemporarilyfrozen)werelistedonFebruary5,2001.
10.Inaccordancewiththeresolutionsof2000annualshareholders’generalmeeting,theCompanycapitalizedcapitalcommonreserveinto419,039,249shareson5-for-10basiswiththetotalsharecapitalasoftheendof2000,i.e.,838,078,499sharesasbase.ThedateofstockrightregistrationwasMay21,2001.Theex-rightdatewasMay22,2001.11.OnMarch8,2004,AsapprovedbyChinaSecuritiesRegulatoryCommissionbydocumentZheng-Jian-Gong-Si-Zi[2003]No.3,the45,000,000non-negotiableforeignshareswereplacedinShenzhenStock
12.OnDecember21,2005,theCompany'splanforshareholdingstructurereformwasvotedthroughattheshareholders'meetingconcerningAshares.OnJanuary262006,TheMinistryofCommerceofPRCissued“TheapprovalonshareconvertingofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.”toapprovetheshareequityrelocationandtransformation.OnOctober92006,accordingtothe“Circularaboutimplementingofshareequityrelocationandrelativetrading”issuedbyShenzhenStockExchange,theabbreviationIDoftheCompany’sAshareswasrestoredfrom“G-Expressway”“ExpresswayA”.UpontheapprovaldocumentofCSRCNo.230-2016ZhengJianXuke-ApprovaloftheShare-IssuingtoPartiessuchasGuangdongProvincialExpresswayCo.,LtdtoPurchaseAssetsandRaiseMatchingFundsbyGuangdongProvincialExpresswayDevelopmentCo.,Ltd,inJune2016thecompanyissued33,355,263sharesandpaidRMB
803.50milliontoGuangdongProvincialExpresswayCo.,Ltdforpurchasingthe25%stakeofGuangdongProvincialFokaiExpresswayCo.,LtdheldbyGuangdongProvincialExpresswayCo.,Ltd;andissued466,325,020sharestoGuangdongProvincialHighwayConstructionCo.,Ltdforpurchasingthe100%stakeofGuangzhouGuangzhuTrafficInvestmentManagementCo.,LtdheldbyGuangdongProvincialHighwayConstructionCo.,Ltd.OnJune21,2016,thecompanydirectionallyissued334,008,095A-sharestoYadongFuxingYalianInvestmentCo.,Ltd,TibetYinyueInvestmentManagementCo.,LtdandGuangfaSecuritiesCo.,Ltd.TheissuanceofshareshavebeenregisteredonJuly7,2016,thenewshareswillbelistedonJuly8,2016.
2.Company'sregisteredplaceandheadquartersaddressCompanyname:GuangdongProvincialExpresswayDevelopmentCo.,Ltd.RegistrationplaceNo.85,BaiyunRoad,YuexiuDistrict,Guangzhou.HeadquartersOffice:45-46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TiheDisrtict,Guangzhou
3.BusinessnatureandmainbusinessactivitiesIndustryandmainproductsofthecompany:highwaymanagementandmaintenance.
Generalbusinessitems:investment,construction,charging,maintenanceandservicemanagementofexpressways,graderoadsandbridges;Automobilerescueservice,maintenanceandcleaning;Parkinglotcharges;Design,production,releaseandagencyofallkindsofadvertisementsathomeandabroad;Landdevelopmentalongthehighway;Warehousingbusiness;Intelligenttransportationtechnologyresearchanddevelopmentandservice;Equityinvestment,managementandconsultation.(Projectsthatmustbeapprovedaccordingtolawcanbeoperatedonlyafterbeingapprovedbyrelevantdepartments).TheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,JingzhuExpresswayGuangzhuSectionandGuanghuiExpresswayinvestmentintechnologicalindustriesandprovisionofrelevantconsultaionwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,Guangzhou
GuanghuiExpresswayCo.,Ltd..,GuangdongJiangzhongExpresswayCo.Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnologyPettyLoanCo.,Ltd.,GuangdongGuangleExpresswayCo.,Ltd.,GuoyuanSecuritiesCo.,Ltd,HunanLianzhiTechnologyCo.,Ltd.andSPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.
4.Scopeandchangesofconsolidatedfinancialstatementsinthecurrentperiod
(1)Scopeofcurrentconsolidatedfinancialstatements
TheconsolidatedscopeofthecurrentfinancialstatementsinvovlesGuangdongExpresswayTechnologyInvestmentCo.,Ltd.,YuegaoCapitalHolding(Guangzhou)Co.,Ltd.,itsholdingsubsidiariesGuangfoExpresswayCo.,Ltd.,JingzhuExpresswayGuangzhuSectionCo.,Ltd.andGuanghuiExpresswayCo.,Ltd..
(2)Changesinthescopeofconsolidatedfinancialstatementsinthecurrentperiod
None
5.ApprovalandsubmissiondateoffinancialreportThefinancialstatementshavebeenauthorizedforissuancebythe27thmeetingoftheNinthBoardofDirectorsoftheGrouponMarch15,2022.IV.Basisforthepreparationoffinancialstatements
1.Preparationbasis
ThefinancialstatementsoftheCompanyhavebeenpreparedonbasisofgoingconcerninconformitywithChineseAccountingStandardsforBusinessEnterprisesandtheAccountingSystemsforBusinessEnterprisesissuedbytheMinistryofFinanceofPeople’sRepublicofChina(MinistryofFinanceissuedorderNo.33,theMinistryofFinancerevisedorderNo.76)onFebruary15,2006,andrevisedAccountingStandards(order42oftheMinistryofFinance)andCompilationRulesforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15–GeneralProvisionsonFinancialReports(2014Revision)issuedbytheChinaSecuritiesRegulatoryCommission(CSRC).
AccordingtotherelevantaccountingregulationsinChineseAccountingStandardsforBusinessEnterprises,theCompanyhasadoptedtheaccrualbasisofaccounting.Held-for-salenon-currentassetsaremeasuredatthelowerofitsbookvalueatitsclassificationdateandfairvalueminusexpecteddisposalcosts.Whereassetsareimpaired,provisionsforassetimpairmentaremadeinaccordancewithrelevantrequirements
2.Continuation
Therewillbenosucheventsorsituationsinthe12monthsfromtheendofthereportingperiodthatwillcausematerialdoubtsastothecontinuationcapabilityoftheCompany.V.SignificantAccountingPoliciesandAccountingEstimatesSpecificaccountingpoliciesandaccountingestimatesareindicatedasfollows:
None
1.StatementofCompliancewiththeAccountingStandardsforBusinessEnterprises
ThefinancialstatementsoftheCompanyarerecognizedandmeasuredinaccordancewiththeregulationsin
theChineseAccountingStandardsforBusinessEnterprisesandtheygiveatrueandfairviewofthefinancialposition,businessresultandcashflowoftheCompany,.Inaddition,thefinancialstatementsoftheCompanycomply,inallmaterialrespects,withthereviseddisclosingrequirementsforfinancialstatementsandtheCompilationRulesforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15—GeneralProvisionsonFinancialReports(2014Revision)issuedbyChinaSecuritiesRegulatoryCommission(CSRC)in2014.
2.AccountingperiodTheaccountingperiodoftheCompanyisclassifiedasinterimperiodandannualperiod.Interimperiodreferstothereportingperiodshorterthanacompleteannualperiod.TheaccountingperiodoftheCompanyisthecalendaryearfromJanuary1toDecember31.
3.OperatingcycleThenormaloperatingcyclereferstotheperiodfromthetimewhentheGrouppurchasesassetsforprocessingtothetimewhencashorcashequivalentsarerealized.TheCompanytakes12monthsasabusinesscycleandusesitasacriterionforliquidityclassificationofassetsandliabilities.
4.StandardcurrencyforbookkeepingTheCompanyadoptsCNYtoprepareitsfunctionalstatements.
5.AccountingsforBusinessCombinationsundertheSameControl&BusinessCombinationsnotundertheSameControl
1.BusinessCombinationsundertheSameControl
Ifbusinessparticipatinginthecombinationareultimatelycontrolledbythesamepartyorpartiesbeforeandafterthecombination,andthecontrolisnottemporary,itisanbusinesscombinationunderthesamecontrol.Usually,businesscombinationunderthesamecontrolreferstothecombinationbetweenbusinesswithinthesamebusiness,exceptwhichitisgenerallynotregardedasbusinesscombinationunderthesamecontrol.TheassetsandliabilitiesobtainedbytheCompanyasthecombiningpartyinthebusinesscombinationshallbemeasuredaccordingtothebookvalueofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthecombinationdate.Forthelong-termequityinvestmentformedbyholdingcombinationunderthesamecontrol,thecompanytakestheshareofthebookowner'sequityofthecombinedpartyonthecombinationdateastheinitialinvestmentcostforformingthelong-termequityinvestment.Seethelong-termequityinvestmentforrelevantaccountingtreatment;TheassetsandliabilitiesobtainedbyabsorptionandcombinationunderthesamecontrolshallberecordedbytheCompanyaccordingtotheoriginalbookvalueoftherelatedassetsandliabilitiesinthecombinedparty.Thecompanyadjuststhecapitalreserveaccordingtothedifferencebetweenthebookvalueofthenetassetsobtainedandthebookvalueofthecombinationconsiderationpaid(orthetotalparvalueoftheissuedshares);Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.
AlldirectlyrelatedexpensesincurredbytheCompanyasacombiningpartyforbusinesscombination,includingauditfees,evaluationfees,legalservicefees,etc.,areincludedinthecurrentprofitsandlosseswhenincurred.
Feesandcommissionspaidforbondsissuedbyenterprisesorotherdebtsshallbeincludedintheinitialmeasurementamountofbondsandotherdebtsissued.Fees,commissionsandotherexpensesincurredinissuing
equitysecuritiesinbusinesscombinationshallbeoffsetagainstthepremiumincomeofequitysecurities,andifthepremiumincomeisinsufficienttooffset,theretainedearningsshallbeoffset.Iftheholdingunderthesamecontroliscombinedtoformaparent-subsidiaryrelationship,theparentcompanyshallprepareconsolidatedfinancialstatementsontheconsolidationdate,includingconsolidatedbalancesheet,consolidatedincomestatementandconsolidatedcashflowstatement.
Fortheconsolidatedbalancesheet,thebookvalueofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyshallbeincorporatedintotheconsolidatedfinancialstatements,andthetransactionsbetweenthecombiningpartyandthecombinedpartyontheconsolidationdateandthepreviousperiodshallberegardedasinternaltransactionsandoffsetaccordingtotherelevantprinciplesof"ConsolidatedFinancialStatements";Theconsolidatedincomestatementandcashflowstatementincludethenetprofitandcashflowrealizedbythecombiningpartyandthecombinedpartyfromthebeginningofthecurrentconsolidationperiodtotheconsolidationdate,andinvolvethecashflowgeneratedbythetransactionsandinternaltransactionsbetweenthetwopartiesinthecurrentperiod,whichshallbeoffsetaccordingtotherelevantprinciplesoftheconsolidatedfinancialstatements.
2.Ifthepartiesinvolvedinthecombinationarenotultimatelycontrolledbythesamepartyorpartiesbeforeandafterthecombination,itisabusinesscombinationnotunderthesamecontrol.BusinessCombinationsnotundertheSameControl
Determinethecostofbusinesscombination:thecostofbusinesscombinationincludesthefairvalueofcashornon-cashassetspaidbythepurchaserforbusinesscombination,debtsissuedorassumed,andequitysecuritiesissuedonthepurchasedate.
Inthebusinesscombinationnotunderthesamecontrol,theintermediaryexpensessuchasauditing,legalservices,evaluationandconsultationandotherrelatedmanagementexpensesincurredbythepurchaserforthebusinesscombinationshallbeincludedinthecurrentprofitsandlosseswhentheyoccur;Transactioncostsofequitysecuritiesordebtsecuritiesissuedbythepurchaserascombinationconsiderationshallbeincludedintheinitialrecognizedamountofequitysecuritiesordebtsecurities.
Forthelong-termequityinvestmentobtainedbyholdingcombinationnotunderthesamecontrol,thecompanytakesthecombinationcostdeterminedonthepurchasedate(excludingcashdividendsandprofitsthatshouldbecollectedfromtheinvestee)astheinitialinvestmentcostforthelong-termequityinvestmentofthepurchaser;Allidentifiableassetsandliabilitiesobtainedbyabsorptionandcombinationunderdifferentcontrolthatmeettherecognitionconditionsshallberecognizedasassetsandliabilitiesoftheenterpriseatfairvalueonthedateofpurchase.IftheCompanytakesnon-monetaryassetsasconsiderationtoobtainthecontrolrightofthepurchaserorvariousidentifiableassetsandliabilities,thedifferencebetweenthefairvalueoftherelevantnon-monetaryassetsonthepurchasedateandtheirbookvalueshallbetakenasthedisposalprofitandlossoftheassetsandrecordedintheincomestatementofthecurrentconsolidationperiod.
Inabusinesscombinationnotunderthesamecontrol,thedifferencebetweenthecostofbusinesscombinationandthefairvalueshareofidentifiablenetassetsofthepurchaserobtainedinthecombinationisrecognizedasgoodwill;Inthecaseofabsorptionandcombination,thedifferenceisrecognizedasgoodwillintheindividualfinancialstatementsoftheparentcompany;Inthecaseofholdingcombination,thedifferenceislistedasgoodwillintheconsolidatedfinancialstatements.
Thecostofbusinesscombinationislessthanthedifferencebetweenthefairvalueshareofidentifiablenetassetsacquiredduringthecombination,whichisincludedintheprofitsandlosses(non-operatingincome)ofthecurrentcombinationperiodafterreviewbytheCompany.Inthecaseofabsorptionandcombination,thedifferenceisincludedintheindividualincomestatementoftheparentcompanyinthecurrentcombinationperiod;Inthecaseofholdingcombination,thedifferenceisincludedintheconsolidatedincomestatementofthecurrent
combinationperiod.Ifthebusinesscombinationnotunderthesamecontrolrealizedstepbystepthroughmultipleexchangetransactionsisapackagetransaction,eachtransactionwillbetreatedasatransactiontoobtaincontrolrights;Ifitisnotapackagetransaction,theequityofthepurchasedpartyheldbeforethepurchasedateshallbere-measuredaccordingtothefairvalueoftheequityonthepurchasedate,andthedifferencebetweenthefairvalueanditsbookvalueshallbeincludedinthecurrentinvestmentincome;Iftheequityofthepurchasedpartyheldbeforethepurchasedateinvolvesothercomprehensiveincome,othercomprehensiveincomerelatedtoitshallbeconvertedintotheinvestmentincomeofthecurrentperiodonthepurchasedate,exceptforothercomprehensiveincomearisingfromthere-measurementofnetliabilitiesorchangesinnetassetsofthedefinedbenefitplansbytheinvestedparty.
6.Compilationmethodofconsolidatedfinancialstatements
(1)ConsolidationscopeTheconsolidationscopeofconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol.ControlmeansthattheCompanyhasthepowerovertheinvestee,isentitledtovariablereturnsbyparticipatingintherelatedactivitiesoftheinvestee,andhastheabilitytousethepowerovertheinvesteetoinfluenceitsreturnamount.SubsidiariesrefertosubjectscontrolledbytheCompany(includingenterprises,divisiblepartsofinvestee(s),structuredsubjects,etc.).
(2)CompilationmethodofconsolidatedfinancialstatementsTheconsolidatedfinancialstatementsoftheCompanyarebasedonthefinancialstatementsoftheparentcompanyanditssubsidiaries,andarepreparedaccordingtootherrelevantinformation.Whencompiling,theimportantinternaltransactionsbetweentheparentcompanyanditssubsidiaries,suchasinvestment,transactions,purchaseandsaleofinventoriesandtheirunrealizedprofits,areoffsetandcombineditembyitem,andtheminorityshareholders'rightsandinterestsandthecurrentincomeofminorityshareholdersarecalculated.Iftheaccountingpoliciesandaccountingperiodsofsubsidiariesareinconsistentwiththoseoftheparentcompany,theaccountingstatementsofsubsidiariesshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheparentcompanybeforecombination.
(3)IncreaseanddecreasetheconsolidatedreportprocessingofsubsidiariesduringthereportingperiodDuringthereportingperiod,whenpreparingtheconsolidatedbalancesheet,thebalanceatthebeginningoftheconsolidatedbalancesheetisadjustedforthesubsidiariesaddedduetobusinesscombinationunderthesamecontrol.Whenpreparingtheconsolidatedbalancesheet,thebalanceatthebeginningoftheyearoftheconsolidatedbalancesheetisnotadjustedforthesubsidiariesaddedduetobusinesscombinationnotunderthesamecontrol.Duringthereportingperiod,thesubsidiariesaredisposedofandthebalanceatthebeginningoftheconsolidatedbalancesheetisnotadjustedwhentheconsolidatedbalancesheetisprepared.
Duringthereportingperiod,theincome,expensesandprofitsofsubsidiariesaddedbybusinesscombinationunderthesamecontrolfromthebeginningtotheendofthereportingperiodareincludedintheconsolidatedincomestatement,andthecashflowsfromthebeginningtotheendofthereportingperiodareincludedintheconsolidatedcashflowstatement.Forsubsidiariesaddedduetobusinesscombinationnotunderthesamecontrol,theincome,expensesandprofitsofsuchsubsidiariesfromthepurchasedatetotheendofthereportingperiodareincludedintheconsolidatedincomestatement,andtheircashflowfromthepurchasedatetotheendofthereportingperiodisincludedintheconsolidatedcashflowstatement.Duringthereportingperiod,thesubsidiaryisdisposedof,andtheincome,expensesandprofitsfromthebeginningoftheperiodtothedisposaldateareincludedintheconsolidatedincomestatement,andthecashflowfromthebeginningoftheperiodtothedisposal
dateisincludedintheconsolidatedcashflowstatement.Whenthecontrolrightoftheoriginalsubsidiaryislostduetothedisposalofpartoftheequityinvestmentorotherreasons,theremainingequityinvestmentafterdisposalshallbere-measuredaccordingtoitsfairvalueonthedateoflossofcontrolright.Thesumoftheconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequity,minusthedifferencebetweentheshareoftheoriginalsubsidiary'snetassetscalculatedcontinuouslyfromthepurchasedateandthesumofgoodwillcalculatedaccordingtotheoriginalshareholdingratio,isincludedintheinvestmentincomeinthecurrentperiodwhenthecontrolrightislost.Othercomprehensiveincomerelatedtotheoriginalsubsidiary'sequityinvestmentisconvertedintocurrentinvestmentincomewhenthecontrolrightislost,exceptforothercomprehensiveincomegeneratedbytheinvestee'sre-measurementofnetliabilitiesorchangesinnetassetsofthesetincomeplan.
Thedifferencebetweenthenewlyacquiredlong-termequityinvestmentduetothepurchaseofminoritysharesandtheidentifiablenetassetsshareofsubsidiariescalculatedaccordingtotheincreasedshareholdingratio,andthedifferencebetweenthedisposalpriceobtainedfrompartialdisposalofequityinvestmentinsubsidiariesandthenetassetsshareofsubsidiariescorrespondingtothedisposaloflong-termequityinvestmentareusedtoadjusttheequitypremiuminthecapitalreserveintheconsolidatedbalancesheet.Iftheequitypremiuminthecapitalreserveisinsufficienttooffset,theretainedearningswillbeadjusted.
(4)Processingofconsolidatedstatementsfromstep-by-stepdisposalofequitytolossofcontrolrights
Ifthetransactionsthatdisposeoftheequityinvestmentinsubsidiariesuntilthelossofcontrolrightsareofapackagetransaction,thetransactionsshallbetreatedastransactionsthatdisposeofsubsidiariesandlosecontrolrights;However,thedifferencebetweenthedisposalpriceandtheshareofthesubsidiary'snetassetsrelatedtothedisposalinvestmentbeforethelossofcontrolrightisrecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatements,whichwillbetransferredtothecurrentprofitandlosswhenthecontrolrightislost,exceptforothercomprehensiveincomearisingfromthere-measurementofthenetliabilitiesorchangesinnetassetsofthesetincomeplanbytheinvestee.Ifitisnotapackagetransaction,beforethelossofcontrol,thedifferencebetweenthedisposalpriceandthecorrespondingnetassetscontinuouslycalculatedbythesubsidiaryfromthepurchasedatewillbeadjustedtothecapitalreserve,andifthecapitalreserveisinsufficienttooffset,theretainedearningswillbeadjusted;Incaseoflossofcontrolright,theaccountingtreatmentshallbecarriedoutaccordingtotheaboveaccountingpolicywhenthecontrolrightovertheoriginalsubsidiaryislost.
7.RecognitionStandardofCash&CashEquivalents
CashandcashequivalentsoftheCompanyincludecashonhand,readyusabledepositsandinvestmentshavingshortholdingterm(normallywillbeduewithinthreemonthsfromthedayofpurchase),withstrongliquidityandeasytobeexchangedintocertainamountofcashthatcanbemeasuredreliablyandhavelowrisksofchange.
8.ForeignCurrencyTransaction
(1)Foreigncurrencybusiness
ForeigncurrencytransactionsoftheCompanyareconvertedintotheamountofbookkeepingbasecurrencyaccordingtothespotrateonthetransactiondate.
Onthebalancesheetdate,foreigncurrencymonetaryitemsandforeigncurrencynon-monetaryitemsshallbetreatedaccordingtothefollowingprovisions:foreigncurrencymonetaryitemsshallbeconvertedatthespotrateonthebalancesheetdate.Exchangedifferencesarisingfromthedifferencebetweenthespotrateonthebalancesheetdateandthespotrateatthetimeofinitialrecognitionorthepreviousbalancesheetdateareincludedinthecurrentprofitsandlosses;Foreigncurrencynon-monetaryitemsmeasuredathistoricalcostare
stillconvertedatthespotrateonthetransactiondate,withoutchangingtheirbookkeepingbasecurrencyamount;Foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbeconvertedatthespotrateonthefairvaluedeterminationdate,andthedifferencebetweentheconvertedbookkeepingbasecurrencyamountandtheoriginalbookkeepingbasecurrencyamountshallbetreatedaschangesinfairvalue(includingexchangeratechanges)andincludedinthecurrentprofitsandlosses;Duringthecapitalizationperiod,theexchangedifferencebetweentheprincipalandinterestofforeigncurrencyspecialloansiscapitalizedandincludedinthecostofassetsthatmeetthecapitalizationconditions.
(2)TranslationofforeigncurrencyfinancialstatementsWhenconvertingforeigncurrencyfinancialstatements,theCompanyshallcomplywiththefollowingregulations:assetsandliabilitiesinthebalancesheetshallbeconvertedatthespotrateonthebalancesheetdate,andotheritemsofowner'sequityexcept"undistributedprofits"shallbeconvertedatthespotrateatthetimeofoccurrence;Theincomeandexpenseitemsintheincomestatementshallbeconvertedatthespotrateonthetransactiondate(orattheexchangeratedeterminedbyasystematicandreasonablemethodandsimilartothespotrateonthetransactiondate).Thetranslationdifferenceofforeigncurrencyfinancialstatementsgeneratedaccordingtotheabovetranslationisrecognizedasothercomprehensiveincome.Theconversionofcomparativefinancialstatementsshallbehandledaccordingtotheaboveprovisions.
10.Financialinstruments
TheCompanyrecognizesthefinancialassetsorliabilitieswheninvolvedinfinancialinstruments’agreements.
(1)Classification,recognitionandmeasurementoffinancialassets
Inaccordancewiththecharacteristicsofbusinessmodelformanagingfinancialassetsandthecontractualcashflowoffinancialassets,theCompanyclassifiesfinancialassetsinto:financialassetsmeasuredinamortizedcost;financialassetsmeasuredatfairvalueandtheir'schangesareincludedinothercomprehensiveincome;financialassetsmeasuredatfairvalueandtheir'schangesareincludedincurrentprofitsandlosses.
Theinitialmeasurementoffinancialassetsiscalculatedbyusingfairvalue.Forfinancialassetsmeasuredatfairvalue,whosechangesareincludedincurrentprofitsandlosses,relevanttransactioncostsaredirectlyincludedincurrentprofitsandlosses;Forothertypesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.
①FinancialassetsmeasuredatamortizedcostThebusinessmodeloftheCompany'smanagementoffinancialassetsmeasuredbyamortizedcostisaimedatcollectingthecontractualcashflow,andthecontractualcashflowcharacteristicsofsuchfinancialassetsareconsistentwiththebasiclendingarrangements,thatis,thecashflowgeneratedonaspecificdateisonlythepaymentofprincipalandinterestbasedontheamountofoutstandingprincipal.Forsuchfinancialassets,theCompanyadoptsthemethodofrealinterestrateandmakessubsequentmeasurementaccordingtothecostofamortization.Theprofitsorlossesresultingfromamortizationorimpairmentareincludedincurrentprofitsandlosses.
②FinancialassetsmeasuredatfairvalueandchangesincludedinothercomprehensiveincomeTheCompany'sbusinessmodelformanagingsuchfinancialassetsistocollectthecontractualcashflow,andthecontractualcashflowcharacteristicsofsuchfinancialassetsareconsistentwiththebasiclendingarrangements.TheCompanymeasuressuchfinancialassetsatfairvalueandtheirchangesareincludedinothercomprehensivegains,butimpairmentlossesorgains,exchangegainsandlossesandinterestincomecalculatedaccordingtotheactualinterestratemethodareincludedincurrentprofitsandlosses.Inaddition,theCompanydesignatedsomenon-tradingequityinstrumentinvestmentsasfinancialassets
measuredatfairvaluewithchangesincludedinothercomprehensiveincome.TheCompanyincludestherelevantdividendincomeofsuchfinancialassetsincurrentprofitsandlosses,andthechangesinfairvalueinothercomprehensivegains.Whenthefinancialassetceasestoberecognized,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensivegainsshallbetransferredintoretainedincomefromothercomprehensiveincome,andnotbeincludedincurrentprofitandloss.
③FinancialassetsmeasuredatfairvalueandchangesincludedincurrentprofitsandlossesTheCompanyincludestheabove-mentionedfinancialassetsmeasuredatamortizedcostandthosemeasuredatfairvalueandtheir'schangesinfinancialassetsotherthanfinancialassetsofcomprehensiveincomeandclassifiesthemasfinancialassetsmeasuredatfairvalueandtheir'schangesthatareincludedincurrentprofitsandlosses.Inaddition,theCompanydesignatessomefinancialassetsasfinancialassetsmeasuredatfairvalueandincludestheirchangesincurrentprofitsandlossesinordertoeliminateorsignificantlyreduceaccountingmismatchesduringinitialrecognition.Inregardwithsuchfinancialassets,theCompanyadoptsfairvalueforsubsequentmeasurement,andincludeschangesinfairvalueintocurrentprofitsandlosses.
(2)Classification,recognitionandmeasurementoffinancialliabilitiesTheGroup’sfinancialliabilitiesare,oninitialrecognition,classifiedintofinancialliabilitiesatfairvaluethroughprofitorlossandotherfinancialliabilities.Forfinancialliabilitiesatfairvaluethroughprofitorloss,relevanttransactioncostsareimmediatelyrecognizedinprofitorlossforthecurrentperiod,andtransactioncostsrelatingtootherfinancialliabilitiesareincludedintheinitialrecognitionamounts.
1FinancialliabilitiesmeasuredbythefairvalueandthechangesrecordedinprofitorlossTheclassificationbywhichfinancialliabilitiesheld-for-tradeandfinancialliabilitiesdesignedattheinitialrecognitiontobemeasuredbythefairvaluefollowsthesamecriteriaastheclassificationbywhichfinancialassetsheld-for-tradeandfinancialassetsdesignedattheinitialrecognitiontobemeasuredbythefairvalueandtheirchangesarerecordedinthecurrentprofitorloss
Transactionalfinancialliabilities(includingderivativesbelongingtofinancialliabilities)aresubsequentlymeasuredaccordingtofairvalue.Exceptforhedgingaccounting,changesinfairvalueareincludedincurrentprofitsandlosses.
Financialliabilitiesdesignatedasfinancialliabilitiesthataremeasuredatfairvalueandtheir'schangesareincludedincurrentprofitsandlosses.TheliabilitiesareincludedinothercomprehensivegainsduetochangesinfairvaluecausedbychangesintheCompany'sowncreditrisk,andwhentheliabilitiesareterminated,thechangesinfairvaluecausedbychangesinitsowncreditriskofothercomprehensivegainsareincludedinthecumulativechangesinitsfairvaluecausedbychangesinitsowncreditriskofothercomprehensivegains.Theamountistransferredtoretainedearnings.Theremainingchangesinfairvalueareincludedincurrentprofitsandlosses.Iftheabove-mentionedwayofdealingwiththeimpactofthechangesinthecreditriskofsuchfinancialliabilitieswillresultinorexpandtheaccountingmismatchintheprofitsandlosses,theCompanyshallincludealltheprofitsorlossesofsuchfinancialliabilities(includingtheamountoftheimpactofthechangesinthecreditriskoftheenterpriseitself)intothecurrentprofitsandlosses.
②Otherfinancialliabilities
Inadditiontothetransferofafinancialassetisnotinconformitywiththeconditionstostoptherecognitionorformedbyitscontinuousinvolvementinthetransferredfinancialasset,financialliabilitiesandfinancialguaranteecontractofotherfinancialliabilitiesclassifiedasfinancialliabilitiesmeasuredattheamortizedcost,measuredattheamortizedcostforsubsequentmeasurement,recognitionhasbeenstoppedoramortizationoftheprofitorlossisincludedinthecurrentprofitsandlosses.
(3)Recognitionbasisandmeasurementmethodsfortransferoffinancialassets
Financialassetssatisfyingoneofthefollowingconditionsshallbeterminatedandrecognized:①The
contractualrighttocollectthecashflowofthefinancialassetisterminated;②Thefinancialassethasbeentransferred,andalmostalltherisksandrewardsintheownershipofthefinancialassethavebeentransferredtothetransferee;③Thefinancialassethasbeentransferred,althoughtheenterpriseneithertransfersnorretainsalmostalltherisksandrewardsintheownershipofthefinancialasset,butitabandonedcontrolofthefinancialassets.
Incasethattheenterprisedoesnottransferorretainalmostallrisksandrewardsonfinancialassetsownershipnorwaivetocontroltheseassets,relevantfinancialassetsshallberecognizedinaccordancewiththedegreeforcontinuedinvolvementoffinancialassetstransferredandrelevantliabilitiesshallberecognizedcorrespondingly.westbankTheterm"continuousinvolvementinthetransferredfinancialasset"shallrefertotherisklevelthattheenterprisefacesresultingfromthechangeofthevalueofthefinancialasset.Iftheoveralltransferofthefinancialassetssatisfiesthederecognitioncriteria,thedifferencebetweenthebookvalueofthetransferredfinancialassetsandthesumoftheconsiderationreceivedfromtransferandcumulativechangeinfairvaluepreviouslyrecognizedinothercomprehensiveincomeisaccountedintothecurrentprofitorloss.Incasethatthepartialtransferoffinancialassetsmeetsde-recognitionconditions,thebookvalueoffinancialassetstransferredshallbeallocatedasperrespectivefairvaluebetweende-recognizedornotde-recognizedparts,andthedifferencebetweenthesumoftheconsiderationreceivedduetotransferwiththeaccumulatedamountoffairvaluechangesthatispreviouslyincludedinothercomprehensiveincomeandshallbeallocatedtode-recognizedpartsandtheaforesaidbookamountallocatedshallbeincludedinthecurrentprofitorloss.
TheCompanyshalldeterminewhetheralmostalltherisksandrewardsoftheownershipofthefinancialassetssoldbymeansofrecourseorendorsedtotransferthefinancialassetsitholdshavebeentransferred.Ifalmostalltherisksandrewardsintheownershipofthefinancialassethavebeentransferredtothetransferee,theconfirmationofthefinancialassetshallbeterminated;ifalmostalltherisksandrewardsintheownershipofthefinancialassethavebeenretained,theconfirmationofthefinancialassetshallnotbeterminated;ifneitherthetransfernortheretentionofalmostalltherisksandrewardsintheownershipofthefinancialassethasbeenmade.Incaseofremuneration,itshallcontinuetodeterminewhethertheenterprisehasretainedcontrolovertheassetsandconductaccountingtreatmentinaccordancewiththeprinciplesdescribedintheprecedingparagraphs.
(4)Terminationconfirmationoffinancialliabilities
Ifthecurrentobligationofafinancialliability(orpartthereof)hasbeendischarged,theCompanyshallterminatetherecognitionofthefinancialliability(orpartthereof).IftheCompany(thedebtor)signsanagreementwiththelendertoreplacetheoriginalfinancialliabilitiesbyassumingnewfinancialliabilities,andthecontracttermsofthenewfinancialliabilitiesaresubstantiallydifferentfromthoseoftheoriginalfinancialliabilities,itshallterminatetherecognitionoftheoriginalfinancialliabilitiesandatthesametimeconfirmanewfinancialliabilities.IftheCompanysubstantiallyamendsthecontracttermsoftheoriginalfinancialliabilities(orpartthereof),itshallterminatetheconfirmationoftheoriginalfinancialliabilitiesandatthesametimeconfirmanewfinancialliabilitiesinaccordancewiththerevisedterms.
Ifthefinancialliabilities(orpartthereof)areterminated,thedifferencebetweentheirbookvalueandtheconsiderationpaid(includingthetransferrednon-cashassetsorliabilitiesassumed)shallbeincludedintheprofitsandlossesofthecurrentperiod.
(5)Offsettingfinancialassetsandfinancialliabilities
WhentheCompanyhasalegalrightthatiscurrentlyenforceabletosetofftherecognizedfinancialassetsandfinancialliabilities,andintendseithertosettleonanetbasis,ortorealizethefinancialassetandsettlethefinancialliabilitysimultaneously,afinancialassetandafinancialliabilityshallbeoffsetandthenetamountis
presentedinthebalancesheet.Exceptfortheabovecircumstances,financialassetsandfinancialliabilitiesshallbepresentedseparatelyinthebalancesheetandshallnotbeoffset.
(6)MethodfordeterminingthefairvalueoffinancialassetsandfinancialliabilitiesFairvaluereferstothepricethatamarketparticipantmustpaytosellortransferaliabilityinanorderlytransactionthatoccursonthemeasurementdate.ThefairvalueoffinancialinstrumentsexistinginanactivemarketisdeterminedbytheCompanyaccordingtoitsquotedpriceinthismarket.westbankThequotedpricesintheactivemarketrefertotheprices,whichareeasilyavailablefromthestockexchanges,brokers,industryassociations,pricingserviceinstitutionsandetc.atafixedterm,andwhichrepresentthepricesatwhichactuallyoccurredmarkettransactionsaremadeunderfairconditions.?¨Incanafinancialinstrumentdoesnotexistinactivemarkets,itsfairvalueshallbedeterminedbytheCompanywithassessmenttechniques.Thevalueappraisaltechniquesmainlyincludethepricesadoptedbytheparties,whoarefamiliarwiththecondition,inthelatestmarkettransactionupontheirownfreewill,thecurrentfairvalueobtainedbyreferringtootherfinancialinstrumentsofthesameessentialnature,thecashflowcapitalizationmethodandtheoptionpricingmodel,etc.Invaluation,theCompanyadoptsvaluationtechniquesthatareapplicableinthecurrentsituationandsupportedbysufficientdataandotherinformationtoselectinputvaluesconsistentwiththecharacteristicsofassetsorliabilitiesconsideredbymarketparticipantsinthetransactionsofrelatedassetsorliabilities,andgiveprioritytotheuseofrelevantobservableinputvaluesasfaraspossible.Unallowablevaluesareusediftherelevantobservableinputvaluesarenotavailableorarenotpracticable.
(7)EquityinstrumentsAnequityinstrumentisanycontractthatevidencesaresidualinterestintheassetsoftheCompanyafterdeductingallofitsliabilities.Theconsiderationreceivedfromissuingequityinstruments,netoftransactioncosts,areaddedtoshareholders’equity.Alltypesofdistribution(excludingstockdividends)madebytheCompanytoholdersofequityinstrumentsaredeductedfromshareholders’equity.
Thedividends(including"interest"generatedbythetoolsclassifiedasequityinstruments)distributedbytheCompany'sequityinstrumentsduringtheperiodoftheirexistenceshallbetreatedasprofitdistribution.
10.Impairmentoffinancialinstruments
TheCompanyrequirestoconfirmthatthefinancialassetslostbyimpairmentarefinancialassetsmeasuredbyamortizedcost,investmentindebtinstrumentsandleasereceivableswhicharemeasuredatfairvalueandwhosechangesareincludedinothercomprehensivegains,mainlyincludingnotesreceivable,accountsreceivable,otherreceivables,creditor'srightsinvestment,othercreditor'srightsinvestmentandlong-termreceivablesandetc.Inaddition,provisionforimpairmentandconfirmationofcreditimpairmentlossesarealsomadeforcontractassetsandsomefinancialguaranteecontractsinaccordancewiththeaccountingpoliciesdescribedinthissection.
(1)Methodofconfirmingimpairmentprovision
Basedonanticipatedcreditloss,theCompanycalculatesimpairmentpreparationandconfirmscreditimpairmentlossaccordingtotheapplicableanticipatedcreditlossmeasurementmethod(generalmethodorsimplifiedmethod).
Creditlossreferstothedifferencebetweenthecashflowofallcontractsdiscountedaccordingtotheoriginalrealinterestrateandtheexpectedcashflowofallcontractsreceivableaccordingtothecontract,thatis,thepresentvalueofallcashshortages.Amongthem,theCompanydiscountsthefinancialassetspurchasedororiginatedwithcreditimpairmentattheactualinterestrateadjustedbycredit.
ThegeneralmethodofmeasuringanticipatedcreditlossiswhetherthecreditriskoftheCompany'sfinancialassets(includingotherapplicableitemssuchascontractassets,similarlyhereinafter)hasincreasedsignificantlysincetheinitialrecognitiononeachbalancesheetday.Ifthecreditriskhasincreasedsignificantly
sincetheinitialrecognition,theCompanyshallmeasurethelosspreparationaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.Ifthecreditriskhasnotincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelosspreparationaccordingtotheamountequivalenttotheexpectedcreditlossinthenext12months.TheCompanyshallconsiderallreasonableandevidencedinformation,includingforward-lookinginformation,whenevaluatingexpectedcreditlosses.Assumingthattheircreditriskhasnotincreasedsignificantlysincetheinitialrecognition,theCompanymaychoosetomeasurethelossreserveaccordingtotheexpectedcreditlossinthenext12monthsforfinancialinstrumentswithlowcreditriskonthebalancesheetdate.
(2)CriteriaforjudgingwhethercreditriskhasincreasedsignificantlysincetheinitialrecognitionIftheprobabilityofdefaultofafinancialassetontheestimateddurationofthebalancesheetissignificantlyhigherthantheprobabilityofdefaultduringtheestimateddurationoftheinitialrecognition,thecreditriskofthefinancialassetissignificantlyincreased.Exceptforspecialcircumstances,theCompanyusesthechangeofdefaultriskinthenext12monthsasareasonableestimateofthechangeofdefaultriskintheentiredurationtodeterminewhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.
(3)Aportfolio-basedapproachtoassessingexpectedcreditriskTheCompanyshallevaluatethecreditriskoffinancialassetswithdistinctdifferencesincreditrisk,suchastherelatedparty'sreceivables,thereceivablesindisputewiththeotherpartyorinvolvinglitigationandarbitration,andreceivablesthathasbeenprovedthatthedebtormaynotbeabletofulfilltheobligationofrepayment,etc.Inadditiontothefinancialassetsthatassesscreditriskindividually,theCompanyshalldividefinancialassetsintodifferentgroupsbasedoncommonriskcharacteristics,andassesscreditriskonthebasisofportfolio.
(4)AccountingtreatmentofimpairmentoffinancialassetsAttheendoftheduration,theCompanyshallcalculatetheanticipatedcreditlossesofvariousfinancialassets.Iftheanticipatedcreditlossesaregreaterthanthebookvalueofitscurrentimpairmentprovision,thedifferenceisdeemedasimpairmentloss.Ifthebalanceislessthanthebookvalueofthecurrentimpairmentprovision,thedifferenceisdeemedasimpairmentprofit.
(5)Methodofdeterminingcreditlossesofvariousfinancialassets
①ReceivableAccountandContractassetsInregardtoreceivableswithoutsignificantfinancingcomponents,theCompanyshallmeasurelosspreparationaccordingtotheamountofanticipatedcreditlossequivalenttotheentireduration.
Inregardtoaccountsreceivablewithsignificantfinancingcomponents,theCompanyshallchoosetomeasurelosspreparationaccordingtotheamountequivalenttotheexpectedcreditlosswithinthedurationallthetime.
Inadditiontotheaccountsreceivablethatassessesthecreditriskindividually,receivablesaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
Items | Basisfordeterminingcombination: |
Protfolio1:Agingprotfolio | Thisportfolioischaracterizedbytheagingofreceivablesasacreditrisk. |
Portfolio2:QualityGuaranteeportfolio | Thisportfolioisthecontractqualityguaranteefundandotherfunds |
Fortheaboveportfolio1,themeasurementmethodofbaddebtsreserveistheaginganalysismethod,specificallyasfollows:
Aging | Proportion(%) |
Within1year(Including1year) | 0 |
1-2years | 10 |
2-3years | 30 |
3-4years | 50 |
4-5years | 90 |
Over5years | 100 |
Fortheguaranteefundportfolioofportfolio2,noprovisionforbaddebtsshallbemadeunlessthereisobjectiveevidencethatthemoneycannotberecoveredaccordingtotheoriginaltermsofaccountsreceivableandcontractassets.
②OtherreceivableTheCompanyhasmeasuredtheimpairmentlossbasedontheamountofexpectedcreditlossesinthenext12monthsortheentireduration,basedonwhetherthecreditriskofotherreceivableshasincreasedsignificantlysincetheinitialrecognition.Inadditiontotheotheraccountsreceivablewhichassessesthecreditriskindividually,theyaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
Items | Basisfordeterminingcombination: |
Protfolio1 | Thisportfolioisacollectionofvariousdeposits,advances,pledgesandotherreceivablesindailyactivities. |
Protfolio2 | Thisportfolioisareservefundborrowedbyemployeesintheirdailybusinessactivities. |
Protfolio3 | Otherreceivablesotherthantheaboveportfolio. |
Combinationofdeposit,qualityassurancefundanddepositandreservefundcombinationexceptforobjectiveevidencethattheGroupwillnotbeabletorecovertheamountaccordingtotheoriginaltermsofreceivables,willnotnormallybeaccruedforbaddebtreserves.Themeasurementmethodofbaddebtreservesforothercombinationsisaginganalysis,andtheaccrualproportionisthesameasaccountsreceivable.
③Creditor'srightsinvestment
Creditor'srightsinvestmentmainlyaccountsforbondinvestmentmeasuredbyamortizedcost,etc.TheCompanyhasmeasuredtheimpairmentlossbasedontheamountofexpectedcreditlossesinthenext12monthsortheentireduration,basedonwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.TheCompanyadoptsthemethodofevaluatingcreditriskwithindividualassetsforcreditor'srightsinvestment.
11.Inventory
1.Investoriesclass:
Thecompany’sstockscanbeclassifiedas:rawmaterials,etc.
2.Valuationmethodofinventoryissued:Thecompanycalculatesthepricesofitsinventoriesaccordingtotheweightedaveragesmethodorthefirst-infirst-outmethod.
Measurementofendinginventory
Onthebalancesheetdate,inventoryshallbemeasuredatthelowerofcostandnetrealizablevalue.Ifthecostofinventoryishigherthanitsnetrealizablevalue,provisionforinventorydepreciationshallbeaccruedandrecordedintothecurrentprofitsandlosses.
Ifthedifferencebetweenthecostcalculatedbyasingleinventoryitemanditsnetrealizablevalueishigher,theinventorydepreciationreserveshallbeaccruedandrecordedintothecurrentprofitsandlosses.Netrealizablevaluereferstotheestimatedsellingpriceofinventoryindailyactivitiesminustheestimatedcoststobeincurreduponcompletion,estimatedsalesexpensesandrelatedtaxesandfees.
Physicalinventoriesaremanagedbytheperpetualinventorytakingsystem.
12.ContractassetsandContractliabilitiesInthecontractbetweentheCompanyandcustomers,theCompanyhastherighttochargethecontractpriceforthegoodsandrelatedservicesthathavebeentransferredtocustomers,andmeanwhileundertaketheperformanceobligationoftransferringthegoodsorservicestocustomers.Whenthecustomeractuallypaysthecontractconsiderationortheenterprisehastransferredthegoodsorservicestothecustomerbeforetheconsiderationbecomesdueandpayable,therighttoreceivetheconsiderationduetothetransferredgoodsorservicesshallbelistedascontractassets,andrecognizedasaccountsreceivableorlong-termreceivableswhentheunconditionalrightofcollectionisobtained.`InthecontractbetweentheCompanyandcustomers,theCompanyhastherighttoreceivethecontractconsiderationbeforetransferringthegoodsorservicestocustomers,andinthemeantimelisttheobligationtotransfergoodsorservicestocustomersduetotheconsiderationreceivedorreceivablefromcustomersascontractualliabilities.WhentheCompanyfulfillsitsobligationtotransfergoodsorprovideservicestocustomers,thecontractualliabilitiesarerecognizedasincome.
TheCompanyshalllistthecontractassetsandliabilitiesunderthesamecontractinnetamount.
13.Long-termequityinvestments
(1)InitialmeasurementTheCompanymakesinitialmeasurementoflong-termequityinvestmentinthefollowingtwosituations:
①Theinitialinvestmentcostoflong-termequityinvestmentformedbybusinesscombinationshallbedeterminedinaccordancewiththefollowingprovisions:
A.Inabusinesscombinationunderthesamecontrol,ifthecombiningpartypayscash,transfersnon-cashassetsorassumesdebtsasthecombinationconsideration,theshareofthebookvalueoftheowner'sequityofthemergedpartyintheconsolidatedfinancialstatementsofthefinalcontrollingpartyshallbetakenastheinitialinvestmentcostoflong-termequityinvestmentonthecombinationdate.Thedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentandthecashpaid,thetransferrednon-cashassetsandthebookvalueofthedebtsundertakenisadoptedtoadjustthecapitalreserve;Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.Alldirectlyrelatedexpensesincurredforbusinesscombination,includingauditfees,evaluationfees,legalservicefees,etc.,areincludedinthecurrentprofitsandlosseswhentheyoccur.
B.Inthebusinesscombinationnotunderthesamecontrol,theCompanydeterminesthecombinationcostbydistinguishingthefollowingsituations:
a)Forbusinesscombinationrealizedbyoneexchangetransaction,thecostofcombinationisthefairvalueofassetspaid,liabilitiesincurredorassumedinordertogaincontroloverthepurchasedpartyonthepurchasedate;
b)Forbusinesscombinationrealizedstepbystepthroughmultipleexchangetransactions,thesumofthebookvalueoftheequityinvestmentofthepurchasedpartyheldbeforethepurchasedateandthenewinvestmentcostonthepurchasedateshallbetakenastheinitialinvestmentcostoftheinvestment;
c)Intermediaryexpensessuchasauditing,legalservices,evaluationandconsultation,andotherrelatedmanagementexpensesincurredforbusinesscombinationareincludedinthecurrentprofitsandlosseswhentheyoccur;
d)Iffutureeventsthatmayaffectthecombinationcostareagreedinthecombinationcontractoragreement,ifitisestimatedthatthefutureeventsarelikelytooccuronthepurchasedateandtheamountofimpactonthecombinationcostcanbereliablymeasured,theywillbeincludedinthecombinationcost.
②Exceptforthelong-termequityinvestmentformedbybusinesscombination,theinitialinvestmentcostoflong-termequityinvestmentobtainedbyothermeansshallbedeterminedinaccordancewiththefollowingprovisions:
A.Forthelong-termequityinvestmentobtainedbycashpayment,theactualpurchasepriceshallbetakenastheinitialinvestmentcost.Initialinvestmentcostincludesexpenses,taxesandothernecessaryexpendituresdirectlyrelatedtoobtaininglong-termequityinvestment.B.Forlong-termequityinvestmentobtainedthroughexchangeofnon-monetaryassets,theinitialinvestmentcostshallbedeterminedaccordingtoAccountingStandardsforBusinessEnterprisesNo.7-ExchangeofNon-monetaryAssets.C.Forlong-termequityinvestmentobtainedthroughdebtrestructuring,theinitialinvestmentcostshallbedeterminedaccordingtoAccountingStandardsforBusinessEnterprisesNo.12-DebtRestructuring.
③Nomatterhowthelong-termequityinvestmentisobtained,whentheinvestmentisobtained,thecashdividendsorprofitsincludedinthepaidconsiderationthathavebeendeclaredbutnotyetissuedbytheinvesteeareseparatelyaccountedasreceivableitems,whichdoesnotconstitutetheinitialinvestmentcostofobtainingthelong-termequityinvestment.
(2)Subsequentmeasurement
Long-termequityinvestmentthatcanbecontrolledbytheinvesteeshallbeaccountedbythecostmethodinindividualfinancialstatements.Long-termequityinvestmentsthathavejointcontrolorsignificantinfluenceontheinvesteeshallbeaccountedbyequitymethod.
①Long-termequityinvestmentaccountedbycostmethodispricedaccordingtotheinitialinvestmentcost。Adjustthecostoflong-termequityinvestmentbyaddingorrecoveringinvestment.Cashdividendsorprofitsdeclaredanddistributedbytheinvesteeshallberecognizedascurrentinvestmentincome.
Iftheinitialinvestmentcostoflong-termequityinvestmentaccountedbyequitymethodisgreaterthanthefairvalueshareofidentifiablenetassetsoftheinvestee,theinitialinvestmentcostoflong-termequityinvestmentshallnotbeadjusted;Iftheinitialinvestmentcostoflong-termequityinvestmentislessthanthefairvalueshareoftheidentifiablenetassetsoftheinvesteeatthetimeofinvestment,thedifferenceshallbeincludedinthecurrentprofitsandlosses,andthecostoflong-termequityinvestmentshallbeadjustedatthesametime.
Afterobtainingthelong-termequityinvestment,theinvestmentincomeandothercomprehensiveincomeshallberecognizedrespectivelyaccordingtotheshareofthenetprofitandlossandothercomprehensiveincomerealizedbytheinvestedunit,andthebookvalueofthelong-termequityinvestmentshallbeadjustedatthesametime;Accordingtotheprofitorcashdividenddeclaredanddistributedbytheinvestee,thebookvalueoflong-termequityinvestmentshallbereducedaccordingly;Thebookvalueofthelong-termequityinvestmentisadjustedandincludedintheowner'sequityforotherchangesintheowner'sequityoftheinvesteeexceptnetprofitandloss,othercomprehensiveincomeandprofitdistribution.Whenrecognizingtheshareofthenetprofitandlossoftheinvestee,thenetprofitoftheinvesteeisrecognizedafteradjustmentbasedonthefairvalueoftheidentifiablenetassetsoftheinvesteeatthetimeofobtainingtheinvestment.IftheaccountingpoliciesandaccountingperiodsadoptedbytheinvesteeareinconsistentwiththoseoftheCompany,thefinancialstatementsoftheinvesteeshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheCompany,andtheinvestmentincomeandothercomprehensiveincomeshallberecognizedaccordingly.Thenetlossincurredbytheinvesteeisrecognizedtobewrittendowntozerobythebookvalueoflong-termequityinvestmentandotherlong-termintereststhatsubstantiallyconstitutethenetinvestmentoftheinvestee,unlesstheCompanyisobligatedtobearadditionallosses.Iftheinvesteeachievesnetprofitinthefuture,theCompanywillresumetherecognitionoftherevenuesharingamountafteritsrevenuesharingamountcompensatesfortheunrecognizedlosssharingamount.
Whencalculatingandrecognizingthenetprofitandlossthatshouldbeenjoyedorsharedbytheinvestee,theunrealizedinternaltransactionprofitandlosswiththeaffiliatedenterpriseandthejointventureshallbecalculatedaccordingtotheproportionthatshouldbeenjoyed,andthepartattributabletotheCompanyshallbeoffset,and
theinvestmentincomeshallberecognizedonthisbasis.UnrealizedinternaltransactionlossesbetweentheCompanyandtheinvesteeareassetimpairmentlosses,whichshallbefullyrecognized.Partofthecompany'sequityinvestmentinaffiliatedenterprisesisindirectlyheldthroughventurecapitalinstitutions,mutualfunds,trustcompaniesorsimilarentitiesincludinginvestment-linkedinsurancefunds.Regardlessofwhethertheaboveentitieshaveasignificantimpactonthispartofinvestment,theCompanychoosestomeasurethispartofindirectinvestmentatfairvalueanditschangeisincludedinprofitorlossinaccordancewiththerelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,andtherestisaccountedforbyequitymethod.
③WhentheCompanydisposesoflong-termequityinvestment,thedifferencebetweenitsbookvalueandtheactualpurchasepriceshallbeincludedinthecurrentprofitsandlosses.Forlong-termequityinvestmentaccountedbyequitymethod,whendisposingoftheinvestment,itadoptsthesamebasisastheinvestee'sdirectdisposalofrelatedassetsorliabilities,andaccountsforthepartoriginallyincludedinothercomprehensiveincomeaccordingtothecorrespondingproportion.
(3)Basistodeterminejointcontroloverandsignificantinfluenceontheinvestee
Jointcontrolreferstothecommoncontrolofanarrangementinaccordancewiththerelevantagreement,andtherelevantactivitiesofsucharrangementmustbeunanimouslyagreedbytheparticipantswhosharethecontrolrightsbeforemakingdecisions.Significantinfluencemeansthattheinvestorhastherighttoparticipateinthedecision-makingonthefinancialandoperatingpoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.Whendeterminingwhethertheinvesteecanbecontrolledorexertsignificantinfluence,thepotentialvotingrightsfactorssuchascurrentconvertiblebondsandcurrentexecutablewarrantsoftheinvesteeheldbytheCompanyandotherpartiesshallbeconsideredatthesametime.
14.InvestmentPropertyThemeasurementmodeofinvestmentpropertyThemeasurementbythecostmethodDepreciationoramortizationmethod
Investmentpropertyisheldtoearnrentalsorforcapitalappreciationorforboth.Investmentpropertyincludesleasedorreadytotransferaftercapitalappreciationlanduserightsandleasedbuildings.
(1)Themeasurementmodeofinvestmentproperty①Depreciationoramortizationmethod
Theestimatedservicelife,netsalvagevaluerateandannualdepreciation(amortization)rateofinvestmentrealestatearelistedasfollows:
Type | Estimatedservicelife(years) | Estimatednetsalvagevaluerate | Annualdepreciation(amortization)rate |
Landuseright | Remainingusefullife | ||
Housesandbuildings | 20-30years | 3%-10% | 3%-4.85% |
②Impairmenttestmethodandaccountingtreatmentmethod
See"30.AssetImpairment"fordetailsofimpairmenttestmethodsandimpairmentprovisionaccrualmethodsofinvestmentrealestate.
(2)Conversionofinvestmentrealestate
TheCompanyhasconclusiveevidencethattheuseofrealestatehaschanged.Whenconvertinginvestmentrealestateintoself-userealestateorinventory,thefairvalueonthedayofconversionistakenasthebookvalueofself-userealestate,andthedifferencebetweenfairvalueandoriginalbookvalueisincludedincurrentprofits
andlosses.Whenself-userealestateorinventoryisconvertedintoinvestmentrealestatemeasuredbyfairvaluemodel,theinvestmentrealestateispricedaccordingtothefairvalueontheconversionday.Ifthefairvalueontheconversiondayislessthantheoriginalbookvalue,thedifferenceisincludedinthecurrentprofitsandlosses;Ifthefairvalueontheconversiondateisgreaterthantheoriginalbookvalue,thedifferenceshallbeincludedinothercomprehensiveincome.
15.Fixedassets
(1)ConfirmationconditionsTheCompany'sfixedassetsrefertotangibleassetsheldfortheproductionofcommodities,provisionoflaborservices,leasingoroperationmanagement,whichhaveaservicelifeofmorethanoneyear,andwhoseeconomicbenefitsarelikelytobeincludedintotheCompanyandwhosecostscanbereliablymeasured.
(2)Depreciationmethod
①TheCompany'sfixedassetsincluderoadsandbridges,housesandbuildings,machineryandequipment,
electronicequipment,transportationtoolsandotherequipment.
②Forthefixedassetsformedbyspecialreserveexpenditure,thespecialreserveshallbeoffsetaccordingto
thecosttoformthefixedassets,andtheaccumulateddepreciationofthesameamountshallberecognized.Thefixedassetswillnotbedepreciatedinfutureperiods.Accordingtothenatureandusageoffixedassets,theCompanydeterminestheservicelifeandestimatednetsalvagevalueoffixedassets.Attheendoftheyear,theservicelife,estimatednetsalvagevalueanddepreciationmethodoffixedassetsshallberechecked,andifthereisanydifferencewiththeoriginalestimate,correspondingadjustmentsshallbemade.
Type | Depreciationmethod | Expectedusefullife(Year) | Residualrate(%) | Annualdepreciationrate(%) |
GuangfoExpressway | Workingflowbasis | 28years | 0% | |
FokaiExpressway-XiebiantoSanbaoSection | Workingflowbasis | 40years | 0% | |
FokaiExpressway-SanbaotoShuikouSection | Workingflowbasis | 47.5years | 0% | |
JingzhuExpresswayGuangzhuSection | Workingflowbasis | 30years | 0% | |
GuanghuiExpresswayCo.,Ltd. | Workingflowbasis | 23years | 0% | |
HouseBuilding | Thestraight-linemethod | 20-30years | 3%-5% | 3.17%-4.85% |
MachineEquipment | Thestraight-linemethod | 3-10years | 3%-5% | 9.50%-32.33% |
TransportationEquipment | Thestraight-linemethod | 5-8years | 3%-5% | 11.88%-19.40% |
Other | Thestraight-linemethod | 5years | 3%-5% | 19.00%-19.40% |
16.Construction-inprocess
TheconstructioninprogressoftheCompanyreferstotheplant,equipmentandotherfixedassetsunderconstruction,whichareaccountedforindetailaccordingtotheprojectandrecordedaccordingtotheactualcost,includingdirectconstructionandinstallationcostsandborrowingcoststhatmeetthecapitalizationconditions.Whentheconstructioninprogressreachesthescheduledusablestate,itwillbecarriedovertofixedassetsbytemporaryestimation,stopinterestcapitalization,andstarttoaccruedepreciationaccordingtothedetermineddepreciationmethodoffixedassets.Aftertheprojectiscompletedandfinalaccountsaremade,theoriginalestimatedamountwillbeadjustedaccordingtotheamountoffinalaccounts,buttheoriginalaccrueddepreciationamountwillnotbeadjusted.
17.Borrowingcost
(1)Recognitionprincipleandcapitalizationperiodofborrowingcostcapitalization
BorrowingcostsincurredbytheCompanycanbedirectlyattributedtothepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions,andshallbecapitalizedwhenthefollowingconditionsaremetatthesametimeandincludedintherelevantassetcosts:
①Productionandexpenditurehaveoccurred;
②Borrowingcostshavealreadyoccurred;
③Thepurchase,constructionorproductionactivitiesrequiredtomaketheassetsreachtheintendedusableorsaleablestatehavestarted.
Capitalizationofborrowingcostsshallbesuspendediftheassetsthatmeetthecapitalizationconditionsareabnormallyinterruptedintheprocessofpurchase,constructionorproduction,andtheinterruptiontimecontinuouslyexceeds3months.Borrowingcostsincurredduringtheinterruptionperiodarerecognizedasexpensesandincludedinthecurrentprofitsandlossesuntilthepurchaseandconstructionofassetsortheresumptionofproductionactivities.Iftheinterruptionisanecessaryprocedureforthepurchased,builtorproducedassetsthatmeetthecapitalizationconditionstoreachtheintendedusableorsaleablestate,thecapitalizationofborrowingcostswillcontinue.
Capitalizationofborrowingcostsshallbestoppedwhenassetseligibleforcapitalizationarepurchased,builtorproducedtotheintendedusableorsaleablestate.Borrowingcostsincurredinthefuturearerecognizedasexpensesinthecurrentperiod.
(2)Calculationmethodofcapitalizationamountofborrowingcosts
Whereaspecialloanisborrowedforthepurposeofpurchasing,buildingorproducingassetsthatmeetthecapitalizationconditions,itshallbedeterminedbydeductingtheinterestincomeobtainedbydepositingunusedloanfundsintothebankfromtheinterestexpensesactuallyincurredinthecurrentperiodofspecialloanorbytheinvestmentincomeobtainedbytemporaryinvestment.
Ifthegeneralloanisoccupiedforthepurposeofpurchasing,buildingorproducingassetsthatmeetthecapitalizationconditions,theinterestamountofthegeneralloanthatshouldbecapitalizedshallbecalculatedanddeterminedaccordingtotheweightedaverageoftheaccumulatedassetexpenditureexceedingthespecialloanportionmultipliedbythecapitalizationrateoftheoccupiedgeneralloan.Capitalizationrateiscalculatedanddeterminedaccordingtotheweightedaverageinterestrateofgeneralborrowings.
18.Intangibleassets
(1)Pricingmethod,usefullifeandimpairmenttestTheCompanyrecognizestheidentifiablenon-monetaryassetsownedorcontrolledbytheenterpriseasintangibleassets,whichhavenophysicalform,andtheestimatedfutureeconomicbenefitsrelatedtotheassetsarelikelytoflowintotheenterpriseandthecostoftheassetscanbereliablymeasured.
TheintangibleassetsoftheCompanyarerecordedaccordingtotheamountactuallypaidorthedeterminedvalue.
(1)Ifthepurchasepriceofintangibleassetsexceedsthenormalcreditconditions,whichisoffinancingnatureinessence,thecostofintangibleassetsisdeterminedbasedonthepresentvalueofthepurchaseprice.Thedifferencebetweentheactualpaidpriceandthepresentvalueofthepurchasepriceshallbeincludedinthecurrentprofitsandlosseswithinthecreditperiod,exceptthatitshouldbecapitalizedaccordingtotheregulations.
(2)Theintangibleassetsinvestedbyinvestorsshallbetakenasthecostaccordingtothevalueagreedintheinvestmentcontractoragreement,unlessthevalueagreedinthecontractoragreementisunfair.
(3)TheexpenditureofinternalresearchanddevelopmentprojectsoftheCompanyisdividedintoresearchstageexpenditureanddevelopmentstageexpenditure.Researchreferstoanoriginalandplannedinvestigationtoacquireandunderstandnewscientificortechnicalknowledge.Developmentreferstotheapplicationofresearchresultsorotherknowledgetoaplanordesigntoproduceneworsubstantiallyimprovedmaterials,devicesandproductsbeforecommercialproductionoruse.
Expendituresduringtheresearchphaseofinternalresearchanddevelopmentprojectsareincludedinthecurrentprofitsandlosseswhentheyoccur.Expendituresinthedevelopmentstageofinternalresearchanddevelopmentprojectsthatmeetthefollowingconditionsarerecognizedasintangibleassets:itistechnicallyfeasibletocompletetheintangibleassetssothattheycanbeusedorsold;Havetheintentiontocompletetheintangibleassetsanduseorsellthem;Thewaysinwhichintangibleassetsgenerateeconomicbenefits,includingthosethatcanprovethatthereisamarketforproductsproducedbyusingtheintangibleassetsorthattheintangibleassetsthemselvesexistinthemarket,andthattheintangibleassetswillbeusedinternally,shouldprovetheirusefulness;Havesufficienttechnical,financialandotherresourcestocompletethedevelopmentoftheintangibleassetsandhavetheabilitytouseorselltheintangibleassets;Expendituresattributabletothedevelopmentstageoftheintangibleassetscanbemeasuredreliably.
IntangibleassetswithlimitedservicelifeoftheCompanyshallbeamortizedonaveragewithintheservicelifesincetheintangibleassetsareavailableforuse.Intangibleassetswithuncertainservicelifearenotamortized.Theamortizationamountofintangibleassetsistheamountafterdeductingtheestimatedsalvagevaluefromitscost.Forintangibleassetsforwhichimpairmentprovisionhasbeenmade,theaccumulatedamountofimpairmentprovisionforintangibleassetshastobededucted.
Theamortizationperiodofintangibleassetswithlimitedservicelifeisasfollows:
Type | Amortizationperiod |
Landuseright | Remainingusefullife |
Software | 3-5years |
Tollroadfranchises | Operatingperiodforresidualcharges |
19.Long-termamortizableexpenses
Long-termdeferredexpensesarerecordedaccordingtotheactualamountincurred,andareamortizedequallyininstallmentsduringthebenefitperiodorwithintheprescribedperiod.Ifthelong-termprepaidexpenseitemcannotbenefitthefutureaccountingperiod,theamortizedvalueoftheitemthathasnotbeenamortizedwill
betransferredtothecurrentprofitsandlosses.
20.EmployeeBenefitsEmployeecompensationreferstovariousformsofremunerationorcompensationgivenbytheCompanyforobtainingservicesprovidedbyemployeesordissolvinglaborrelations.Employeecompensationincludesshort-termsalary,post-employmentbenefits,dismissalbenefitsandotherlong-termemployeebenefits.BenefitsprovidedbytheCompanytospouses,children,dependents,survivorsofdeceasedemployeesandotherbeneficiariesofemployeesarealsoemployeecompensation.
(1)Accountingmethodsofshort-termbenefitsDuringtheaccountingperiodwhenemployeesprovideservices,theCompanyrecognizestheactualshort-termsalaryasaliability,whichisincludedinthecurrentprofitsandlosses,exceptthatotheraccountingstandardsrequireorallowittobeincludedinthecostofassets.
(2)Accountingmethodsforpost-employmentbenefits
TheCompanyclassifiesthepost-employmentbenefitplanintodefinedcontributionplananddefinedbenefitplans.Post-employmentbenefitplanreferstotheagreementreachedbetweentheCompanyandemployeesonpost-employmentbenefits,ortherulesormeasuresformulatedbytheCompanytoprovidepost-employmentbenefitstoemployees,amongwhichthesetdepositplanreferstothepost-employmentwelfareplaninwhichtheCompanynolongerundertakesfurtherpaymentobligationsafterpayingafixedfeetoanindependentfund;Definedbenefitplansreferstothepost-employmentbenefitplanexcepttheset-updepositplan.
(3)AccountingTreatmentMethodofDemissionWelfare
IftheCompanyprovidesdismissalbenefitstoemployees,theemployeecompensationliabilitiesarisingfromthedismissalbenefitsshallberecognizedassoonaspossibleandincludedinthecurrentprofitsandlosses:whenthecompanycannotunnaturallywithdrawthedismissalbenefitsprovidedbytheterminationoflaborrelationsplanorreductionproposal;whentheCompanyrecognizesthecostsorexpensesrelatedtothereorganizationinvolvingthepaymentofdismissalbenefits.
(4)Otherlong-termemployeebenefits
Ifotherlong-termemployeebenefitsprovidedbytheCompanytoemployeesmeettheconditionsofthesetdepositplan,theyshallbehandledaccordingtotheaccountingpoliciesofthesetdepositplanmentionedabove;Otherwise,thenetliabilitiesornetassetsofotherlong-termemployeebenefitsshallberecognizedandmeasuredinaccordancewiththeaccountingpoliciesofdefinedbenefitplansmentionedabove.
21.Estimatedliabilities
(1)Recognitioncriteriaofestimatedliabilities
IftheobligationsrelatedtocontingenciesstipulatedbytheCompanymeetthefollowingconditionsatthesametime,theyarerecognizedasestimatedliabilities:
①Theobligationsarethecurrentobligationsundertakenbytheenterprise;
②Fulfillingtheobligationsislikelytocauseeconomicbenefitstoflowoutoftheenterprise;
③Theamountoftheobligationscanbemeasuredreliably.
(2)Measurementmethodofestimatedliabilities
Estimatedliabilitiesareinitiallymeasuredaccordingtothebestestimateofexpenditurerequiredtofulfillrelevantcurrentobligations.Thereisacontinuousrangeofrequiredexpenditure,andthepossibilityofoccurrenceofvariousresultsinthisrangeisthesame,andthebestestimateisdeterminedaccordingtotheintermediatevalueinthisrange.Inothercases,thebestestimatesaretreatedasfollows:
①Contingenciesinvolvingasingleitemshallbedeterminedaccordingtothemostprobableamount.
②Contingenciesinvolvingmultipleitemsshallbecalculatedanddeterminedaccordingtovariouspossibleresultsandrelevantprobabilities.
Whendeterminingthebestestimate,therisk,uncertaintyandtimevalueofmoneyrelatedtocontingenciesshallbeconsideredcomprehensively.Ifthetimevalueofmoneyhasgreatinfluence,thebestestimateisdeterminedbydiscountingtherelatedfuturecashoutflow.
IfallorpartoftheexpensesrequiredbytheCompanytopayofftheestimatedliabilitiesareexpectedtobecompensatedbyathirdparty,thecompensationamountcanberecognizedasanassetonlywhenitisbasicallyconfirmedthatitcanbereceived.Therecognizedcompensationamountshallnotexceedthebookvalueoftheestimatedliabilities.
TheCompanyrechecksthebookvalueoftheestimatedliabilitiesonthebalancesheetdate.Ifthereisconclusiveevidencethatthebookvaluecannottrulyreflectthecurrentbestestimate,thebookvalueshallbeadjustedaccordingtothecurrentbestestimate.
22.RevenuesAccountingpoliciesadoptedforincomerecognitionandmeasurement
(1)RevenuerecognitionprincipleSincethestartingdateofthecontract,thecompanyshallevaluatethecontract,identifieseachindividualperformanceobligationcontainedin,anddetermineswhethereachindividualperformanceobligationisperformedwithinacertainperiodoftimeoratacertainpointoftime.Theperformanceobligationisdefinedasfulfillmentwithinacertainperiodoftimeifoneofthefollowingconditionsismet,otherwise,itisdefinedasfulfilledatacertainpointintime:①Thecustomerobtainsandconsumestheeconomicbenefitsbroughtbythecompany'sperformancewhilethecompanyperformsthecontract;
②Thecustomercancontrolthegoodsundermanufacturingorservicesduringthecompany'sperformance;③Thegoodsorservicesproducedduringthecompany'sperformancehaveirreplaceableuses,andthecompanyhastherighttoaccumulateforthecompletedperformancesduringtheentirecontractperiod.Forobligationsperformedwithinacertainperiodoftime,thecompanyrecognizesrevenueinaccordancewiththeperformanceprogressinthatperiod.Iftheperformanceprogresscannotbereasonablydetermined,andthecostincurredisexpectedtobecompensated,therevenueshallberecognizedaccordingtotheamountofthecostincurreduntiltheperformanceprogresscanbereasonablydetermined.Forobligationsperformedatacertainpointintime,revenueshallberecognizedatthepointwhenthecustomerobtainscontroloftherelevantgoodsorservices.Whenjudgingwhetherthecustomerhasobtainedcontroloftheproduct,thecompanyshallconsiderthefollowingpoints:①Thecompanyhasthecurrentrighttoreceivepaymentfortheproduct,thatis,thecustomerhasthecurrentpaymentobligationfortheproduct;②Thecompanyhastransferredthelegalownershipoftheproducttothecustomer,thatis,thecustomerhasthelegalownershipoftheproduct;③Thecompanyhastransferredthephysicalproducttothecustomer,thatis,thecustomerhasphysicallytakenpossessionoftheproduct;④Thecompanyhastransferredthemainrisksandrewardsontheownershipoftheproducttothecustomer,thatis,thecustomerhasobtainedthemainrisksandrewardsontheownershipoftheproduct;⑤Thecustomerhasacceptedtheproduct;⑥Othersignsthatthecustomerhasobtainedcontroloftheproduct.
(2)Principleofrevenuemeasurement
①Thecompanyshallmeasurerevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.Thetransactionpriceistheamountofconsiderationthatthecompanyexpectstobeentitledtoreceiveduetothetransferofgoodsorservicestocustomers,whiledoesnotincludepaymentsreceivedonbehalfofthirdpartiesandpaymentsexpectedtobereturnedtocustomers.
②Ifthereisvariableconsiderationinthecontract,thecompanyshalldetermineitsbestestimateaccordingtotheexpectedvalueorthemostlikelyamount,butthetransactionpriceincludingthevariableconsiderationshallnotexceedtheaccumulatedamountthat,ifrelevantuncertaintyiseliminated,willmostlikelyhavenosignificantreversal.
③Ifthereisanysignificantfinancingcomponentinthecontract,thecompanyshalldeterminethetransactionpricebasedontheamountpayableincashwhenthecustomerassumescontrolofthegoodsorservices.Thedifferencebetweentransactionpriceandcontractconsiderationshallbeamortizedthrougheffectiveinterestmethodduringthecontractperiod.Onthestartingdateofcontract,ifthecompanyexpectsthatthecustomerwillobtaincontrolofthegoodsorservicesandpaysthepricewithinoneyear,thesignificantfinancingcomponentincontractshallnotbeconsidered.
④Ifthecontractcontainstwoormoreperformanceobligations,thecompanyshall,ondateofthecontract,allocatethetransactionpricetoeachindividualobligationiteminaccordancewiththerelativeproportionoftheseparatesellingpriceofpromisedgoods.
Theadoptionofdifferentbusinessmodelsinsimilarbusinessesleadstodifferencesinaccountingpoliciesforrevenuerecognition
(3)Specificmethodsofrevenuerecognition
(1)Tollservicefeeincome
Thetollincomeofroadsandbridgesisdeterminedaccordingtotheamountcollectedandreceivablebyvehicleswhenpassingthrough.
(2)Incomefromprovidinglaborservices
Forservicesstartedandcompletedinthesamefiscalyear,incomeisrecognizedwhentheservicesarecompleted.Ifthebeginningandcompletionoflaborservicesbelongtodifferentfiscalyears,theCompanyshall,onthebalancesheetdate,recognizetherelatedlaborincomebythepercentageofcompletionmethod,providedthattheresultofthelaborservicetransactioncanbereliablyestimated.Whenthefollowingconditionscanbesatisfied,theresultsofthetransactioncanbereliablyestimated:①thetotalincomeandtotalcostoflaborservicescanbereliablymeasured;②theeconomicbenefitsrelatedtothetransactioncanflowintotheenterprise;
③thedegreeofcompletionoflaborservicescanbereliablydetermined.
Forservicesstartedandcompletedinthesamefiscalyear,incomeisrecognizedwhentheservicesarecompleted.Ifthebeginningandcompletionoflaborservicesbelongtodifferentfiscalyears,theCompanyshall,onthebalancesheetdate,recognizetherelatedlaborincomebythepercentageofcompletionmethod,providedthattheresultofthelaborservicetransactioncanbereliablyestimated.Whenthefollowingconditionscanbesatisfied,theresultsofthetransactioncanbereliablyestimated:①thetotalincomeandtotalcostoflaborservicescanbereliablymeasured;②theeconomicbenefitsrelatedtothetransactioncanflowintotheenterprise;
Ifthetransactionresultofprovidinglaborservicesonthebalancesheetdatecannotbeestimatedreliably,thefollowingsituationsshallbedealtwithrespectively:
①Ifthelaborcostalreadyincurredisexpectedtobecompensated,theincomefromtheserviceshallberecognizedaccordingtotheamountofthelaborcostalreadyincurred,andthelaborcostshallbecarriedoveratthesameamount.
②Iftheincurredlaborcostisnotexpectedtobecompensated,theincurredlaborcostshallbeincludedintheprofitsandlossesofthecurrentperiod,andtheincomefromtheprovisionoflaborserviceshallnotberecognized.
WhenthecontractsoragreementssignedbetweentheCompanyandotherenterprisesincludesellinggoodsandprovidingservices,ifthepartforsellinggoodsandthepartforprovidingservicescanbedistinguishedandmeasuredseparately,thepartforsellinggoodswillbetreatedasgoodssalesandthepartforprovidingservices
willbetreatedasserviceprovision.Salesofgoodsandservicescannotbedistinguished,oralthoughtheycanbedistinguished,theycannotbemeasuredseparately.Allpartsforthesellinggoodsandprovidingserviceswillbetreatedassalesofgoods.Theadoptionofdifferentbusinessmodelsinsimilarbusinessesleadstodifferencesinaccountingpoliciesforincomerecognition
23.GovernmentGrantsGovernmentsubsidiesarerecognizedwhentheymeettheconditionsattachedtogovernmentsubsidiesandcanbereceived.Governmentsubsidiesformonetaryassetsshallbemeasuredaccordingtotheamountreceivedorreceivable.Governmentsubsidiesfornon-monetaryassetsaremeasuredatfairvalue;Ifthefairvaluecannotbeobtainedreliably,itshallbemeasuredaccordingtothenominalamountof1yuan.
GovernmentsubsidiesrelatedtoassetsrefertogovernmentsubsidiesobtainedbytheCompanyforpurchasingandbuildingorforminglong-termassetsinotherways;Otherwise,asagovernmentsubsidyrelatedtoincome.
Wherethegovernmentdocumentsdonotspecifytheobjectofthesubsidy,andthesubsidycanformlong-termassets,thepartofthegovernmentsubsidycorrespondingtothevalueoftheassetsshallberegardedasthegovernmentsubsidyrelatedtotheassets,andtherestshallberegardedasthegovernmentsubsidyrelatedtotheincome;Whereitisdifficulttobedistinguished,governmentsubsidiesasawholearetreatedasincome-relatedgovernmentsubsidies.
Governmentsubsidiesrelatedtoassetsoffsetthebookvalueofrelatedassets,orarerecognizedasdeferredrevenueandincludedinprofitsandlossesbystagesaccordingtoareasonableandsystematicmethodwithintheservicelifeofrelatedassets.Governmentsubsidiesrelatedtoincome,whichareusedtocompensaterelatedcostsorlossesthathaveoccurred,shallbeincludedincurrentprofitsandlossesoroffsetrelatedcosts;Iftheyareusedtocompensaterelatedcostsorlossesinlaterperiods,theywillbeincludedinthedeferredrevenue,andtheywillbeincludedinthecurrentprofitsandlossesoroffsetrelatedcostsduringtherecognitionperiodofrelatedcostsorlosses.Governmentsubsidiesmeasuredinnominalamountaredirectlyincludedincurrentprofitsandlosses.TheCompanyadoptsaconsistentapproachtothesameorsimilargovernmentsubsidybusiness.
Governmentsubsidiesrelatedtodailyactivities,accordingtotheessenceofeconomicbusiness,areincludedinotherincomeoroffsetrelatedcosts.Governmentsubsidiesirrelevanttoroutineactivitiesshallbeincludedintothenon-operatingreceiptanddisbursement.
Whentherecognizedgovernmentsubsidyneedstobereturned,ifthebookvalueofrelatedassetsisoffsetduringinitialrecognition,thebookvalueofassetswillbeadjusted;Ifthereisarelevantdeferredrevenuebalance,thebookbalanceoftherelevantdeferredrevenuewillbeoffset,andtheexcesswillbeincludedinthecurrentprofitsandlosses;Inothercases,itisdirectlyincludedinthecurrentprofitsandlosses.
24.Deferredincometaxassetsanddeferredincometaxliabilities
TheCompanyadoptsthebalancesheetliabilitymethodforincometaxaccountingtreatment.
(1)Deferredtaxassets
①Ifthereisadeductibletemporarydifferencebetweenthebookvalueofanassetorliabilityanditstaxbasis,thedeferredincometaxassetsgeneratedbythedeductibletemporarydifferenceshallbecalculatedandconfirmedaccordingtotheapplicabletaxrateduringtheexpectedperiodofrecoveringtheassetorpayingofftheliability.
②Onthebalancesheetdate,ifthereisconclusiveevidencethatsufficienttaxableincomeislikelytobe
obtainedinthefutureperiodtooffsetthedeductibletemporarydifference,theunrecognizeddeferredincometaxassetsinthepreviousperiodshallberecognized.
③Onthebalancesheetdate,thebookvalueofdeferredincometaxassetsshallbereviewed.Ifitisunlikelythatenoughtaxableincomewillbeobtainedinthefutureperiodtooffsetthebenefitsofdeferredincometaxassets,thebookvalueofdeferredincometaxassetswillbewrittendown.Whensufficienttaxableincomeislikelytobeobtained,thewritten-downamountwillbereversed.
(2)Deferredincometaxliabilities
Ifthereisataxabletemporarydifferencebetweenthebookvalueofassetsandliabilitiesandtheirtaxbasis,thedeferredincometaxliabilitiesarisingfromthetaxabletemporarydifferenceshallberecognizedaccordingtotheapplicabletaxrateduringtheexpectedperiodofrecoveringtheassetsorpayingofftheliabilities.
25.Lease
(1)Identificationoflease
Onthecommencementdateofthecontract,theCompany,asthelesseeorlessor,evaluateswhetherthecustomersinthecontracthavetherighttoobtainalmostalleconomicbenefitsarisingfromtheuseoftheidentifiedassetsduringtheuseperiod,andhastherighttoleadtheuseoftheidentifiedassetsduringtheuseperiod.Ifonepartytothecontracttransferstherighttocontroltheuseofoneormultipleidentifiedassetswithinacertainperiodoftimeinexchangeforconsideration,theCompanywillconsiderthecontractasleaseorlease-included.
(2)TheCompanyasthelessee
Onthestartdateoftheleaseterm,theCompanyrecognizestheright-to-useassetsandleaseliabilitiesforallleases,exceptforshort-termleasesandlow-valueassetleasesthataresimplified.Theaccountingpolicyoftheright-to-useassetsisshowninNoteIII.26.
Leaseliabilitiesareinitiallymeasuredaccordingtotheunpaidleasepaymentamountonthestartdateoftheleasetermandthepresentvaluecalculatedaccordingtotheimpliedinterestrateoftheleaseortheincrementalborrowinginterestrate.Theleasepaymentamountincludes:fixedpaymentamountandsubstantialfixedpaymentamount.Ifthereisleaseincentive,therelatedamountofleaseincentiveshallbededucted;variableleasepaymentsdependingonindexorratio;theexercisepriceoftheoption,providedthatthelesseereasonablydeterminesthattheoptionwillbeexercised;paymentforexercisingtheoptiontoterminatethelease,providedthattheleaseperiodreflectsthatthelesseewillexercisetheoptiontoterminatethelease;andtheamountexpectedtobepaidaccordingtotheresidualguaranteevalueprovidedbythelessee.Theinterestexpenseoftheleaseliabilityineachperiodoftheleasetermshallbecalculatedsubsequentlyaccordingtothefixedperiodicinterestrate,andincludedinthecurrentprofitandloss.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesareincludedinthecurrentprofitsandlosseswhenactuallyincurred.
Short-termlease
Short-termleasereferstotheleasewithaleasetermofnomorethan12monthsonthestartdateoftheleaseterm,exceptfortheleasewithpurchaseoption.
TheCompanyincludestheleasepaymentofshort-termleaseintotherelatedassetcostorcurrentprofitandlossaccordingtothestraight-linemethodineachperiodoftheleaseterm.
Low-valueassetlease
Low-valueassetleasereferstotheleaseinwhichthevalueofasingleleasedassetislessthanRMB100,000whenitisbrandnew.
TheCompanyincludestheleasepaymentoflow-valueassetsintotherelatedassetcostorcurrentprofitand
lossaccordingtothestraight-linemethodineachperiodoftheleaseterm.Fortheleaseoflow-valueassets,theCompanychoosestoadoptthesimplifiedtreatmentmethodmentionedaboveaccordingtothespecificconditionsofeachlease.
(3)TheCompanyservesasthelessorTheCompany,whenasthelessor,recognizestheleasesthathavesubstantiallytransferredallrisksandrewardsrelatedtoassetownershipasfinancialleases,andotherleasesexceptfinancialleasesasoperatingleases.AccountingmethodsforoperatingleasesFortherentintheoperatinglease,theCompanyrecognizesthecurrentprofitsandlossesaccordingtothestraight-linemethodineachperiodoftheleaseterm.Theinitialdirectexpensesincurredinconnectionwiththeoperatingleaseshallbecapitalized,allocatedonthesamebasisastherentalincomerecognitionduringtheleaseterm,andincludedinthecurrentprofitsandlossesbystages.Thevariableleasepaymentsobtainedrelatedtooperatingleasesthatarenotincludedintheleasereceiptsareincludedinthecurrentprofitsandlosseswhentheyactuallyoccur.AccountingtreatmentmethodofleasingInfinancinglease,atthebeginningoftheleaseterm,Japanesecompaniestakethenetinvestmentinleasingastherecordedvalueofthefinancingleasereceivable,andthenetinvestmentinleasingisthesumoftheunsecuredresidualvalueandthepresentvalueoftheleaseproceedsthathavenotyetbeenreceivedonthestartdateoftheleasetermdiscountedaccordingtotheimpliedinterestrateofthelease.Asthelessor,theCompanycalculatesandrecognizestheinterestincomeofeachperiodintheleasetermaccordingtothefixedperiodicinterestrate.ThevariableleasepaymentsobtainedbytheCompanyasthelessorthatarenotincludedinthemeasurementofnetleaseinvestmentarerecordedintothecurrentprofitsandlosseswhentheyactuallyoccur.
ThederecognitionandimpairmentoffinancialleasereceivablesshallbetreatedaccordingtotheprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsandAccountingStandardsforBusinessEnterprisesNo.23-TransferofFinancialAssets.
26.Therighttouseassets
(1)Conditionsforrecognitionoftheright-to-useassets
TheCompany'sright-to-useassetsreferstotherightoftheCompanyasthelesseetousetheleasedassetsduringtheleaseterm.
Onthestartdateoftheleaseterm,theright-to-useassetsareinitiallymeasuredatcost.Thecostincludes:
Theinitialmeasurementamountofleaseliabilities;ifthereisleaseincentivefortheleasepaymentissuedonorbeforethestartdateoftheleaseterm,theamountrelatedtotheleaseincentiveenjoyedshallbededucted;initialdirectexpensesincurredbytheCompanyasthelessee;theestimatedcoststhattheCompanyasthelesseewillincurfordismantlingandremovingtheleasedassets,restoringtheleasedassets'siteorrestoringtheleasedassetstothestateagreedintheleaseterms.TheCompany,asthelessee,recognizesandmeasuresthedemolitionandrestorationcostsinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.13-Contingencies.Itmakessubsequentadjustmentstoanyremeasurementofleaseliabilities.
(2)Depreciationmethodofright-to-useassets
TheCompanyadoptsthestraight-linemethodtoaccruedepreciation.IftheCompanyasthelesseecanbereasonablydeterminedthattheownershipoftheleasedassetisacquiredattheexpirationoftheleaseterm,itshallaccruedepreciationwithintheremainingservicelifeoftheleasedasset.Ifitisimpossibletoreasonablydeterminethattheownershipoftheleasedassetcanbeacquiredattheexpirationoftheleaseterm,itshallaccruedepreciationwithintheshorteroftheleasetermandtheremainingservicelifeoftheleasedasset.
(3)See"27.ImpairmentofAssets"in"SectionVImportantAccountingPoliciesandAccountingEstimates"fortheimpairmenttestmethodandtheprovisionmethodforimpairmentofright-to-useassets.
27.Impairmentofassets
Thefollowingsignsindicatethattheassetsmaybeimpaired:
(1)Themarketpriceofassetsfellsharplyinthecurrentperiod,whichwassignificantlyhigherthantheexpecteddeclineduetothepassageoftimeornormaluse.
(2)Theeconomic,technicalorlegalenvironmentinwhichtheCompanyoperatesandthemarketinwhichtheassetsarelocatedhaveundergonemajorchangesinthecurrentperiodorinthenearfuture,whichwillhaveadverseeffectsontheCompany.
(3)Themarketinterestrateorothermarketreturnoninvestmenthasincreasedinthecurrentperiod,whichaffectsthediscountrateusedbyenterprisestocalculatethepresentvalueoftheestimatedfuturecashflowofassets,resultinginasignificantdecreaseintherecoverableamountofassets.
(4)Thereisevidencethattheassetsareoutdatedortheirentitieshavebeendamaged.
(5)Assetshavebeenorwillbeidle,terminatedorplannedtobedisposedofinadvance.
(6)Theevidencereportedbythecompanyshowsthattheeconomicperformanceofassetshasbeenorwillbelowerthanexpected,suchasthenetcashflowcreatedbyassetsortherealizedoperatingprofit(orloss)isfarlowerthantheexpectedamount.
(7)Otherindicationsthatassetsmayhavebeenimpaired.Onthebalancesheetdate,theCompanyjudgesvariousassetsthatareapplicabletotheAccountingStandardsforBusinessEnterprisesNo.8-ImpairmentofAssets,suchaslong-termequityinvestment,fixedassets,engineeringmaterials,constructioninprogress,intangibleassets(exceptthosewithuncertainservicelife),andconductsimpairmenttestwhentherearesignsofimpairment-estimatingtheirrecoverableamount.Therecoverableamountisdeterminedbythehigherofthenetamountofthefairvalueoftheassetminusthedisposalexpensesandthepresentvalueoftheestimatedfuturecashflowoftheasset.Iftherecoverableamountofanassetislowerthanitsbookvalue,thebookvalueoftheassetshallbewrittendowntotherecoverableamount,andthewritten-downamountshallberecognizedastheassetimpairmentloss,whichshallbeincludedinthecurrentprofitsandlosses,andthecorrespondingassetimpairmentreserveshallbeaccruedatthesametime.
Iftherearesignsthatanassetmaybeimpaired,theCompanyusuallyestimatesitsrecoverableamountonthebasisofindividualassets.Whenitisdifficulttoestimatetherecoverableamountofasingleasset,therecoverableamountoftheassetgroupisdeterminedbasedontheassetgrouptowhichtheassetbelongs.
AssetgroupisthesmallestassetportfoliothatcanberecognizedbytheCompany,anditscashinflowisbasicallyindependentofotherassetsorassetgroups.Theassetgroupconsistsofassetsrelatedtocashinflow.Theidentificationofassetgroupisbasedonwhetherthemaincashinflowgeneratedbyassetgroupisindependentofotherassetsorcashinflowofassetgroup.
TheCompanyconductsimpairmenttesteveryyearforintangibleassetswithuncertaingoodwillandservicelifeformedbybusinesscombinationandnotyetinserviceablecondition,regardlessofwhetherthereisanysignofimpairment.Theimpairmenttestofgoodwilliscarriedoutincombinationwithitsrelatedassetgrouporcombinationofassetgroups.
Oncetheassetimpairmentlossisconfirmed,itwillnotbereversedinthefollowingaccountingperiod.
28.Fairvaluemeasurement
Fairvaluereferstothepricethatamarketparticipantmustpaytosellortransferaliabilityinanorderly
transactionthatoccursonthemeasurementdate.TheCompanymeasuresrelatedassetsorliabilitiesatfairvalue,assumingthattheorderlytransactionofsellingassetsortransferringliabilitiesisconductedinthemainmarketofrelatedassetsorliabilities;Ifthereisnomajormarket,theCompanyassumesthatthetransactionwillbeconductedinthemostfavorablemarketofrelatedassetsorliabilities.Themainmarket(orthemostfavorablemarket)isthetradingmarketthattheCompanycanenteronthemeasurementday.TheCompanyadoptstheassumptionsusedbymarketparticipantstomaximizetheireconomicbenefitswhenpricingtheassetsorliabilities.
Whenmeasuringnon-financialassetsatfairvalue,theabilityofmarketparticipantstousetheassetsforthebestpurposetogenerateeconomicbenefitsortheabilitytoselltheassetstoothermarketparticipantsforthebestpurposetogenerateeconomicbenefitsshallbeconsidered.
TheCompanyadoptsthevaluationtechnologywhichisapplicableinthecurrentsituationandsupportedbysufficientavailabledataandotherinformation,andgivesprioritytotherelevantobservableinputvalues,andonlyusestheunobservableinputvalueswhentheobservableinputvaluesareunavailableorimpractical.
Forassetsandliabilitiesmeasuredordisclosedatfairvalueinfinancialstatements,itshalldeterminethefairvaluelevelaccordingtothelowestlevelinputvaluewhichisofgreatsignificancetofairvaluemeasurementasawhole:thefirst-levelinputvalueistheunadjustedquotationofthesameassetsorliabilitiesthatcanbeobtainedonthemeasurementdateinanactivemarket;Thesecond-levelinputvalueisdirectlyorindirectlyobservableinputvaluesofrelatedassetsorliabilitiesexceptthefirst-levelinputvalue;Thethirdlevelinputvalueistheunobservableinputvalueofrelatedassetsorliabilities.
Oneachbalancesheetdate,theCompanyreassessestheassetsandliabilitiesrecognizedinthefinancialstatementsthatarecontinuouslymeasuredatfairvaluetodeterminewhetherthereisaconversionbetweenthefairvaluemeasurementlevels.
29.Changeofmainaccountingpoliciesandestimations
(1)Changeofmainaccountingpolicies
√Applicable□Notapplicable
Contentsandcausesofchangesinaccountingpolicies | Approvalprocedures | Remarks |
OnDecember7,2018,theMinistryofFinanceissuedtheAccountingStandardsforBusinessEnterprisesNo.21-Lease(Revisedin2018).TheCompanyhasimplementedtheaforementionedNewLeasingStandardsfromJanuary1,2021,andchangedrelevantaccountingpoliciesaccordingtotheNewLeasingStandards. | Adoptedatthe16thMeetingoftheNinthBoardofDirectorsoftheCompanyonMarch25,2021 | |
AstheparticipatingcompaniesGuangdongYuepuMicrofinanceCo.,Ltd.andGuoyuanSecuritiesCo.,Ltd.implementedthenewaccountingstandardstoadjusttheiropeningbalance,theCompanyadoptedtheequitymethodtocalculateandadjusttheopeningbalanceofthe2021financialstatementsaccordingly | ||
Accordingtorelevantlawsandregulations,theCompanyimplementedcentralizedandunifiedmanagementofthefundsofmemberunitsthroughtheinternalsettlementcenter,andlistedthefundsinthe"Othercurrentliabilities".OnDecember30,2021,theMinistryofFinanceissuedInterpretationNo.15ofAccountingStandardsforBusinessEnterprises,whichclearlylistedtheabove-mentionedcollectedfundsintheitemof"Otherpayables",andtheCompanyadjustedandpresentedthemaccordingto |
OnDecember7,2018,theMinistryofFinanceissuedtheAccountingStandardsforBusinessEnterprisesNo.21-Lease(Revisedin2018).TheCompanyhasimplementedtheaforementionedNewLeasingStandardsfromJanuary1,2021,andchangedrelevantaccountingpoliciesaccordingtotheNewLeasingStandards.
Accordingtotheprovisionsofthenewleasestandard,theCompanyreassesswhetherthecontractthatexistsbeforethefirstimplementationdateisaleaseorincludesalease.Fortheleasecontractinwhichit’sthelessee,theCompanychoosestoadjustonlythecumulativeimpactoftheleasecontractthathasnotbeencompletedonJanuary1,2021.Theamountofcumulativeimpactofthefirstimplementationadjuststheamountofretainedearningsandotherrelateditemsinthefinancialstatementsatthebeginningofthefirstimplementationperiod(ieJanuary1,2021),andnoadjustmentwillbemadetothecomparableperiodinformation.Fortheoperatingleaseonthefirstimplementationdate,thelesseemeasurestheleaseliabilitybasedonthepresentvalueoftheremainingleasepaymentsdiscountedattheincrementalborrowingrateonthefirstimplementationdate.
TheCompanychoosesanamountequaltotheleaseliabilityaccordingtoeachlease,andmeasurestheright-of-useassetsaccordingtonecessaryadjustmentsbasedontheprepaidrent.Andinaccordancewiththe“No.8AccountingStandardsforBusinessEnterprises-AssetImpairment",theimpairmenttestoftheright-of-useassetsiscarriedoutandthecorrespondingaccountingtreatmentsarecarriedout.
TheimpactoftheimplementationoftheaboveaccountingpolicychangesonthefinancialstatementsonJanuary1,2021isasfollows:
a.Impactontheconsolidatedfinancialstatements
therequirementsofInterpretationNo.15.
Reportitems
Reportitems | December31,2020(Beforechange) | January1,2021(Afterchange) | Impactedmumber |
Advancepayment | 3,607,538.01 | 2,831,124.98 | -776,413.03 |
Therighttouseasset | 23,154,055.78 | 23,154,055.78 | |
Long-termamortizedexpenses | 3,462,122.00 | 2,454,375.00 | -1,007,747.00 |
Leaseliabilities | 12,245,214.89 | 12,245,214.89 | |
Non-currentliabilitiesduewithinoneyea | 266,328,017.47 | 275,452,698.33 | 9,124,680.86 |
b.Impactontheparentcompanyfinancialstatements
Reportitems | December31,2020(Beforechange) | January1,2021(Afterchange) | Impactednumber |
Advancepayment | 2,181,215.03 | 1,404,802.00 | -776,413.03 |
Therighttouseasset | 21,927,040.99 | 21,927,040.99 | |
Long-termamortizedexpenses | 12,133,352.33 | 12,133,352.33 | |
Leaseliabilities | 190,331,701.48 | 199,348,977.11 | 9,017,275.63 |
Non-currentliabilitiesduewithinoneyea |
(2)Otheraccountingpolicychanges
1)AstheparticipatingcompaniesGuangdongYuepuMicrofinanceCo.,Ltd.andGuoyuanSecuritiesCo.,Ltd.implementedthenewaccountingstandardstoadjusttheiropeningbalance,theCompanyadoptedtheequitymethodtocalculateandadjusttheopeningbalanceofthe2021financialstatementsaccordingly
a.Impactontheconsolidatedfinancialstatements
Reportitems | December31,2020(Beforechange) | January1,2021(Afterchange) | Impactednumber |
Long-termequityinvestment | 2,382,381,165.60 | 2,382,927,355.64 | 546,190.04 |
Undistributedprofits | 3,725,679,319.35 | 3,726,225,509.39 | 546,190.04 |
b.Impactontheparentcompanyfinancialstatements
Reportitems | December31,2020(Beforechange) | January1,2021(Afterchange) | Impactednumber |
Long-termequityinvestment | 5,529,362,536.53 | 5,529,908,726.57 | 546,190.04 |
Undistributedprofits | 3,667,543,163.36 | 3,668,089,353.40 | 546,190.04 |
2)Accordingtorelevantlawsandregulations,theCompanyimplementedcentralizedandunifiedmanagementofthefundsofmemberunitsthroughtheinternalsettlementcenter,andlistedthefundsinthe"Othercurrentliabilities".OnDecember30,2021,theMinistryofFinanceissuedtheInterpretationNo.15ofAccountingStandardsforBusinessEnterprises,whichclearlylistedtheabove-mentionedcollectedfundsintheitemof"Otherpayables",andtheCompanyadjustedandpresentedthemaccordingtotherequirementsofInterpretationNo.15.DuetofactthatGuangdongTaihengExpresswayDevelopmentCo.,Ltd.failedtofulfilltheobligationofpipelineleasepaymentasagreedinthecontractevenafterrepeatedreminders,Guangzhou-HuizhouCompanyfiledalawsuitwithHuangpuDistrictPeople'sCourtinGuangzhouinOctober2021,andthecaseisstillundertrial.
a.Impactontheconsolidatedfinancialstatements
None
b.Impactontheparentcompanyfinancialstatements
Reportitems | December31,2020(Beforechange) | January1,2021(Afterchange) | Impactednumber |
Othercurrentliabilities | 539,618,124.00 | 72,415.40 | -539,545,708.60 |
Otherpayable | 1,431,814,861.38 | 1,971,360,569.98 | 539,545,708.60 |
(2)Significantestimateschanges
√Applicable□Notapplicable
Contentsandcausesofchangesinaccountingestimates | Approvalprocedure | Timepointatwhichtheapplicationbegins |
TheCompanyheldthenineteenth(temporary)meetingoftheninthboardofdirectorsonJune28,2021.Atthemeeting,the"ProposalonChangesinAccountingEstimates"waspassedandthecompanyagreedtothedepreciationperiodoftheSanbao-Shuikousectionoftheexpresswayhasbeenchanged,andthedepreciationperiodhasbeenextendedtoJune14,2044. | The19thmeetingofthe9thBoardofDirectorsoftheCompany | January1,2021 |
TheCompanyheldthenineteenth(temporary)meetingoftheninthboardofdirectorsonJune28,2021.Atthemeeting,the"ProposalonChangesinAccountingEstimates"waspassedandthecompanyagreedtothedepreciationperiodoftheSanbao-Shuikousectionoftheexpresswayhasbeenchanged,andthedepreciationperiodhasbeenextendedtoJune14,2044Forthismatter,theCompanyadoptedthefutureapplicationmethod.Theimpactonthefinancialstatementitemsisasfollows:
Contentsandcausesofchangesinaccountingestimates | Approvalprocedure | Timepointatwhichtheapplicationbegins | Affectedreportitems | Impactamount |
GuangdongProvincialDepartmentofTransportationhasapprovedtheextensionofthechargingperiodfortheSanbao-Shuikousectionofthe | Resolutionoftheboardofdirectors | June1,2021 | Fixedassets | 137,099,491.31 |
Intangibleassets | 2,708,527.52 | |||
Deferredincometaxassets | 12,993,568.40 |
Shenyang-HaikouNationalExpresswaytoJune14,2044. | DeferredincometaxLiabilities | -38,140.18 | |
Mainbusinesscost | -139,808,018.83 | ||
Incometaxexpenses | -13,031,708.58 | ||
Netprofit | 152,839,727.41 |
(3)AdjustmentstotheFinancialStatementsattheBeginningoftheFirstExecutionYearofanyNewStandardsGoverningFinancialInstruments,RevenueorLeasesfromyear2021√Applicable□NotapplicableWhetherneedtoadjustthebalancesheetaccountatthebeginningoftheyear
√Yes□No
Consolidatedbalancesheet
InRMB
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
Currentasset: | |||
Monetaryfund | 2,847,398,003.89 | 2,847,398,003.89 | |
Settlementprovision | |||
Outgoingcallloan | |||
Transactionalfinancialassets | |||
Derivativefinancialassets | |||
Notesreceivable | |||
Accountreceivable | 168,907,517.56 | 168,907,517.56 | |
Financingofreceivables | |||
Prepayments | 3,607,538.01 | 2,831,124.98 | -776,413.03 |
Insurancereceivable | |||
Reinsurancereceivable | |||
ProvisionsofReinsurancecontractsreceivable | |||
Otheraccountreceivable | 60,925,367.64 | 60,925,367.64 | |
Including:Interestreceivable | |||
Dividendreceivable | 2,705,472.90 | 2,705,472.90 | |
Repurchasingoffinancialassets | |||
Inventories | 53,761.06 | 53,761.06 |
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
Contractassets | 5,452,813.90 | 5,452,813.90 | |
Assetsheldforsales | |||
Non-currentassetduewithin1year | 51,745.32 | 51,745.32 | |
Othercurrentasset | 27,051.69 | 27,051.69 | |
Totalofcurrentassets | 3,086,423,799.07 | 3,085,647,386.04 | |
Non-currentassets | |||
Loansandpaymentonother’sbehalfdisbursed | |||
Creditor'srightinvestment | |||
Othercreditor'srightinvestment | |||
Long-termreceivable | |||
Longtermshareequityinvestment | 2,382,381,165.60 | 2,382,927,355.64 | 546,190.04 |
Otherequityinstrumentsinvestment | 1,737,015,528.29 | 1,737,015,528.29 | |
Othernon-currentfinancialassets | |||
Propertyinvestment | 3,110,381.89 | 3,110,381.89 | |
Fixedassets | 11,540,075,929.69 | 11,540,075,929.69 | |
Constructioninprogress | 340,611,095.47 | 340,611,095.47 | |
Productionphysicalassets | |||
Oil&gasassets | |||
Userightassets | 23,154,055.78 | 23,154,055.78 | |
Intangibleassets | 302,381,356.52 | 302,381,356.52 | |
Developmentexpenses | |||
Goodwill | |||
Long-germexpensestobeamortized | 3,462,122.00 | 2,454,375.00 | -1,007,747.00 |
Deferredincometaxasset | 330,755,418.39 | 330,755,418.39 | |
Othernon-currentasset | 22,361,861.19 | 22,361,861.19 | |
Totalofnon-currentassets | 16,662,154,859.04 | 16,684,847,357.86 | 22,692,498.82 |
Totalofassets | 19,748,578,658.11 | 19,770,494,743.90 | 21,916,085.79 |
Currentliabilities |
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
Short-termloans | 200,192,500.00 | 200,192,500.00 | |
LoanfromCentralBank | |||
Borrowingfunds | |||
Transactionalfinancialliabilities | |||
Derivativefinancialliabilities | |||
Notespayable | |||
Accountpayable | 369,773,342.71 | 369,773,342.71 | |
Advancereceipts | 11,309,007.41 | 11,309,007.41 | |
Contractliabilities | 309,734.51 | 309,734.51 | |
Sellingofrepurchasedfinancialassets | |||
Deposittakingandinterbankdeposit | |||
Entrustedtradingofsecurities | |||
Entrustedsellingofsecurities | |||
Employees’wagepayable | 16,726,198.13 | 16,726,198.13 | |
Taxpayable | 217,748,392.78 | 217,748,392.78 | |
Otheraccountpayable | 1,512,619,359.78 | 1,512,619,359.78 | |
Including:Interestpayable | |||
Dividendpayable | 22,262,804.39 | 22,262,804.39 | |
Feesandcommissionspayable | |||
Reinsurancefeepayable | |||
Liabilitiesheldforsales | |||
Non-currentliabilityduewithin1year | 266,328,017.47 | 275,452,698.33 | 9,124,680.86 |
Othercurrentliability | 648,581.64 | 648,581.64 | |
Totalofcurrentliability | 2,595,655,134.43 | 2,604,779,815.29 | 9,124,680.86 |
Non-currentliabilities: | |||
Reservefundforinsurance |
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
contracts | |||
Long-termloan | 4,977,438,800.00 | 4,977,438,800.00 | |
Bondpayable | 1,426,488,336.65 | 1,426,488,336.65 | |
Including:preferredstock | |||
Sustainabledebt | |||
Leaseliability | 12,245,214.89 | 12,245,214.89 | |
Long-termpayable | 40,406,172.37 | 40,406,172.37 | |
Long-termremunerationpayabletostaff | |||
Expectedliabilities | |||
Deferredincome | 89,170,569.64 | 89,170,569.64 | |
Deferredincometaxliability | 387,103,060.74 | 387,103,060.74 | |
Othernon-currentliabilities | |||
Totalnon-currentliabilities | 6,920,606,939.40 | 6,932,852,154.29 | 12,245,214.89 |
Totalofliability | 9,516,262,073.83 | 9,537,631,969.58 | 21,369,895.75 |
Owners’equity | |||
Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 | |
Otherequityinstruments | |||
Including:preferredstock | |||
Sustainabledebt | |||
Capitalreserves | 645,969,210.48 | 645,969,210.48 | |
Less:Sharesinstock | |||
Othercomprehensiveincome | 302,895,877.65 | 302,895,877.65 | |
Specialreserve | |||
Surplusreserves | 1,167,785,965.63 | 1,167,785,965.63 | |
Commonriskprovision | |||
Retainedprofit | 3,725,679,319.35 | 3,726,225,509.39 | 546,190.04 |
Totalofowner’sequitybelongtotheparentcompany | 7,933,136,499.11 | 7,933,682,689.15 | 546,190.04 |
Minorityshareholders’ | 2,299,180,085.17 | 2,299,180,085.17 |
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
equity | |||
Totalofowners’equity | 10,232,316,584.28 | 10,232,862,774.32 | 546,190.04 |
Totalofliabilitiesandowners’equity | 19,748,578,658.11 | 19,770,494,743.90 | 21,916,085.79 |
AdjustmentstatementParentCompanyBalanceSheet
InRMB
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
Currentasset: | |||
Monetaryfund | 1,781,764,519.09 | 1,781,764,519.09 | |
Transactionalfinancialassets | |||
Derivativefinancialassets | |||
Notesreceivable | |||
Accountreceivable | 27,004,827.41 | 27,004,827.41 | |
Financingofreceivables | |||
Prepayments | 2,181,215.03 | 1,404,802.00 | -776,413.03 |
Otheraccountreceivable | 54,148,114.53 | 54,148,114.53 | |
Including:Interestreceivable | |||
Dividendreceivable | 2,705,472.90 | 2,705,472.90 | |
Inventories | |||
Contractassets | |||
Assetsheldforsales | |||
Non-currentassetduewithin1year | 256,279,340.60 | 256,279,340.60 | |
Othercurrentasset | 27,051.69 | 27,051.69 | |
Totalofcurrentassets | 2,121,405,068.35 | 2,120,628,655.32 | -776,413.03 |
Non-currentassets: | |||
Creditor'srightinvestment | 287,903,684.98 | 287,903,684.98 | |
OtherCreditor'srightinvestment |
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
Long-termreceivable | |||
Longtermshareequityinvestment | 5,529,362,536.53 | 5,529,908,726.57 | 546,190.04 |
Otherequityinstrumentsinvestment | 1,737,015,528.29 | 1,737,015,528.29 | |
Othernon-currentfinancialassets | |||
Propertyinvestment | 2,858,243.64 | 2,858,243.64 | |
Fixedassets | 6,245,462,940.39 | 6,245,462,940.39 | |
Constructioninprogress | 43,086,545.58 | 43,086,545.58 | |
Productionphysicalassets | |||
Oil&gasassets | |||
Userightassets | 21,927,040.99 | 21,927,040.99 | |
Intangibleassets | 150,582,241.22 | 150,582,241.22 | |
Developmentexpenses | |||
Goodwill | |||
Long-germexpensestobeamortized | |||
Deferredincometaxasset | 322,365,911.10 | 322,365,911.10 | |
Othernon-currentasset | 7,089,990.48 | 7,089,990.48 | |
Totalofnon-currentassets | 14,325,727,622.21 | 14,348,200,853.24 | 22,473,231.03 |
Totalofassets | 16,447,132,690.56 | 16,468,829,508.56 | 21,696,818.00 |
Currentliabilities | |||
Short-termloans | 200,192,500.00 | 200,192,500.00 | |
Transactionalfinancialliabilities | |||
Derivativefinancialliabilities | |||
Notespayable | |||
Accountpayable | 105,919,984.52 | 105,919,984.52 | |
Advancereceipts | |||
ContractLiabilities | |||
Employees’wagepayable | 6,472,802.81 | 6,472,802.81 | |
Taxpayable | 9,165,801.86 | 9,165,801.86 |
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
Otheraccountpayable | 1,431,814,861.38 | 1,971,360,569.98 | 539,545,708.60 |
Including:Interestpayable | |||
Dividendpayable | 22,262,804.39 | 22,262,804.39 | |
Liabilitiesheldforsales | |||
Non-currentliabilityduewithin1year | 190,331,701.48 | 199,348,977.11 | 9,017,275.63 |
Othercurrentliability | 539,618,124.00 | 72,415.40 | -539,545,708.60 |
Totalofcurrentliability | 2,483,515,776.05 | 2,492,533,051.68 | 9,017,275.63 |
Non-currentliabilities: | |||
Long-termloan | 4,389,653,800.00 | 4,389,653,800.00 | |
Bondpayable | 1,426,488,336.65 | 1,426,488,336.65 | |
Including:preferredstock | |||
Sustainabledebt | |||
Leaseliability | 12,133,352.33 | 12,133,352.33 | |
Long-termpayable | 40,406,172.37 | 40,406,172.37 | |
Long-termremunerationpayabletostaff | |||
Expectedliabilities | |||
Deferredincome | 13,403,327.12 | 13,403,327.12 | |
Deferredincometaxliability | 105,636,866.50 | 105,636,866.50 | |
Othernon-currentliabilities | |||
Totalnon-currentliabilities | 5,975,588,502.64 | 5,987,721,854.97 | 12,133,352.33 |
Totalofliability | 8,459,104,278.69 | 8,480,254,906.65 | 21,150,627.96 |
Owners’equity | |||
Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 | |
Otherequityinstruments | |||
Including:preferredstock | |||
Sustainabledebt | |||
Capitalreserves | 938,969,546.79 | 938,969,546.79 | |
Less:Sharesinstock | |||
Othercomprehensiveincome | 302,895,877.65 | 302,895,877.65 |
Items | December31,2020 | January1,2021 | Amountinvolvedintheadjustment |
Specialreserve | |||
Surplusreserves | 987,813,698.07 | 987,813,698.07 | |
Retainedprofit | 3,667,543,163.36 | 3,668,089,353.40 | 546,190.04 |
Totalofowners’equity | 7,988,028,411.87 | 7,988,574,601.91 | 546,190.04 |
Totalofliabilitiesandowners’equity | 16,447,132,690.56 | 16,468,829,508.56 | 21,696,818.00 |
Note
(4)RetrospectiveRestatementofPreviousComparativeDataduetotheFirstExecutionofanyNewStandardsGoverningFinancialInstrumentsorLeasesfromyear2021
□Applicable√NotapplicableVI.Taxation
1.Majorcategoryoftaxesandtaxrates
Taxcategory | Taxbasis | Taxrate |
VAT | Taxableincome | 3%,5%,6%,9%,13% |
Citymaintenanceandconstructiontax | Theactualpaymentofturnovertax | 5%,7% |
Enterpriseincometax | Taxableincome | 25% |
EducationFeeSurcharge | Theactualpaymentofturnovertax | 3% |
Localeducationsurcharge | Theactualpaymentofturnovertax | 2% |
2.Preferentialtax
AccordingtotheNoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonFullyOpeningthePilotofChangingBusinessTaxtoVAT(CS[2016]No.36),thequalifiedcontractenergymanagementservicesofthesubsidiaryGuangdongHigh-speedTechnologyInvestmentCo.,Ltd.areexemptfromVAT.VII.Notestothemajoritemsofconsolidatedfinancialstatement
1.MonetaryCapital
InRMB
Items | Amountinyear-end | BalanceYear-beginning |
Cash | 38,214.02 | 54,482.68 |
Bankdeposit | 2,955,850,944.81 | 2,846,821,352.23 |
Including:MoneydepositedwithafinanceCompany | 1,521,003,542.69 | 1,031,105,792.71 |
Other | 515,231.72 | 522,168.98 |
Total | 2,956,404,390.55 | 2,847,398,003.89 |
OthernoteAsofDecember31,2021,Thebalanceofrestrictedbankdepositsattheendoftheperiodwas1,221,200.00yuan,whichwasthelandreclamationfunddepositedintothefundcustodyaccountforthereconstructionandexpansionprojectofSanbaotoShuikousectionofFokaiExpressway.
2.Accountreceivable
1.Classificationaccountreceivables.
InRMB
Category | Amountinyear-end | BalanceYear-beginning | ||||||||
BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Accrualofbaddebtprovisionbysingle | 12,268,880.60 | 7.44% | 3,143,664.00 | 25.62% | 9,125,216.60 | |||||
Including: | ||||||||||
Accrualofbaddebtprovisionbyportfolio | 152,527,300.17 | 92.56% | 2,599,116.90 | 1.70% | 149,928,183.27 | 172,621,378.99 | 100.00% | 3,713,861.43 | 2.15% | 168,907,517.56 |
Including: | ||||||||||
Total | 164,796,180.77 | 5,742,780.90 | 159,053,399.87 | 172,621,378.99 | 3,713,861.43 | 168,907,517.56 |
①Accrualofbaddebtprovisionbysingle:
InRMB
Name | Balanceinyear-end | |||
Bookbalance | Baddebtprovision | Withdrawalproportion | Reason | |
GuangdongTaihengExpresswayDevelopmentCo.,Ltd. | 5,221,056.00 | 3,143,664.00 | 60.21% | GuangdongGuangzhou-HuizhouExpresswayCo.,Ltd.,asubsidiarycompany,signedapipelineleaseagreementwithGuangdongTaihengExpresswayDevelopmentCo.,Ltd.toprovidecommunicationpipelinesforGuangdongTaihengExpresswayDevelopmentCo.,Ltd.BecauseGuangdongTaihengExpresswayDevelopmentCo.,Ltd.failedtofulfillitspaymentobligationsasagreedinthecontractevenafterrepeatedreminders,Guangzhou-HuizhouCompanyfiledalawsuitwithHuangpuDistrictPeople'sCourtinGuangzhouinOctober2021, |
ShandongBoanIntelligentTechnologyCo.,Ltd. | 7,047,824.60 | Recoveryoccurredon4January2022 | ||
Total | 12,268,880.60 | 3,143,664.00 | -- | -- |
Disclosurebyaging
InRMB
Aging | Closingbalance |
Within1year(Including1year) | 139,418,873.03 |
1-2years | 12,960,752.00 |
2-3years | 4,183,077.45 |
Over3years | 8,233,478.29 |
3-4years | 7,677,959.60 |
4-5years | 93,192.00 |
Over5years | 462,326.69 |
Total | 164,796,180.77 |
Thewithdrawalamountofthebaddebtprovision:
InRMB
Name | Balanceinyear-end |
Receivableaccounts | Baddebtprovision | Withdrawalproportion | |
Qualityguarantee | 806,228.14 | ||
Total | 806,228.14 | -- |
Relevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofbillsreceivableisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√Notapplicable
(2)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision:
TheprovisionforbaddebtsinthecurrentperiodisRMB4,519,947.60;andtheamountofbaddebtreserverecoveredorreversedinthecurrentperiodisRMB2,491,028.13.Ofwhichthesignificantamountofthereversedorcollectedpartduringthereportingperiod:
InRMB
Name | Reversedorcollectedamount | Mode |
ShandongBoanIntelligentTechnologyCo.,Ltd. | 2,222,989.88 | Recalltheaccountsreceivableinfull |
Total | 2,222,989.88 | -- |
(3)Thecurrentaccountsreceivablewrite-offssituation
None
(4)Theendingbalanceofotherreceivablesowedbytheimputationofthetopfiveparties
InRMB
Name | Amount | Aging | Proportion(%) | Baddebtprovision |
GuangdongUnionElectronicServicesCo.,Ltd. | 78,368,502.10 | Within1year | 47.55% | |
GansuUnisplendourIntelligentTransportationandControlTechnologyCo.,Ltd | 18,914,067.17 | Within1year | 11.48% | |
GuangdongLuluTrafficDevelopmentCo.,Ltd. | 12,958,333.31 | Within1year | 7.86% | |
GuangzhouLingteElectronicCo.,Ltd. | 1,046,000.00 | Within1year | 6.04% | |
8,901,000.00 | 1-2years | 890,100.00 | ||
GuangdongJingzhuExpresswayGuangzhuNorthsectionCo.,Ltd. | 7,783,650.00 | Within1year | 4.72% |
Total | 127,971,552.58 | 77.65% |
(5)AccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(6)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNone
3.Prepayments
(1)Aginganalysis
InRMB
Aging | Balanceinyear-end | BalanceYear-beginning | ||
Amount | Proportion(%) | Amount | Proportion(%) | |
Within1year | 5,087,647.09 | 97.32% | 2,741,988.15 | 96.85% |
1-2years | 140,000.00 | 2.68% | 89,136.83 | 3.15% |
Total | 5,227,647.09 | -- | 2,831,124.98 | -- |
Notesofthereasonsoftheprepaymentagesover1yearwithsignificantamountbutfailedsettledintime:
None
(2)Top5oftheclosingbalanceoftheprepaymentcollectedaccordingtotheprepaymenttarget
InRMB
Name | RelationswiththeCompany | Amount | Aging | Reasonsfornon-settlement | Proportion% |
ChinaPingAnPropertyInsuranceCo.Ltd.GuangdongBranch | Non-Relatedparty | 3,803,912.18 | Within1year | Unliquidated | 72.77 |
ChinaPacificPropertyInsuranceCo.Ltd.GuangdongBranch | Non-Relatedparty | 838,016.00 | Within1year | Unliquidated | 16.03 |
ZhaoqingYuezhaohighwayCo.,Ltd. | Relatedparty | 216,750.00 | Within1year | Unliquidated | 4.15 |
GuangdongExcellenceLandRealEstateAppraisalandConsultingCo.,Ltd | Non-Relatedparty | 140,000.00 | 1-2years | Unliquidated | 2.68 |
GuangzhouTianhaixiangAviationTechnologyCo.,Ltd | Non-Relatedparty | 139,860.00 | Within1year | Unliquidated | 2.68 |
Total | 5,138,538.18 |
4.Otheraccountsreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Dividendreceivable | 1,205,472.90 | 2,705,472.90 |
Otherreceivable | 12,555,651.33 | 58,219,894.74 |
Total | 13,761,124.23 | 60,925,367.64 |
(1)Interestreceivable:None
(2)Dividendreceivable
1)Dividendreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | 1,205,472.90 |
GanzhouGankangExpresswayCo.,Ltd. | 1,500,000.00 | |
Total | 1,205,472.90 | 2,705,472.90 |
2)Significantdividendreceivableagedover1year
InRMB
Items | Balanceinyear-end | Aging | Reasonsfornon-recovery | Whetherwithimpairmentandthejudgmentbasis |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | 3-4years | Thepartnershipagreementexpiresandcanberecoveredaftertheextensionproceduresarecompleted | No,itcanberecoveredinthefuture |
Total | 1,205,472.90 | -- | -- | -- |
3)Thebaddebtprovision
□Applicable√Notapplicable
(3)Otheraccountsreceivable
1)Otheraccountsreceivableclassified
InRMB
Category | Balanceinyear-end | BalanceYear-beginning | ||||||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Expectedcreditlossrate(%) | Amount | Proportion(%) | Amount | Expectedcreditlossrate(%) | |||
Otherreceivablesforindividualbaddebtprovision | 51,535,736.09 | 80.37 | 51,535,736.09 | 100 | 0 | 51,535,736.09 | 46.9 | 51,535,736.09 | 100 | 0 |
Otherreceivablesforbaddebtprovisionaccordingtothecombinationofcreditriskcharacteristics | 12,588,109.31 | 19.63 | 32,457.98 | 0.26 | 12,555,651.33 | 58,345,934.72 | 53.1 | 126,039.98 | 0.22 | 58,219,894.74 |
Total | 64,123,845.40 | / | 51,568,194.07 | / | 12,555,651.33 | 109,881,670.81 | / | 51,661,776.07 | / | 58,219,894.74 |
Disclosurebyaging
InRMB
Aging | Closingbalance |
Within1year(Including1year) | 6,589,166.07 |
1-2years | 3,965,967.71 |
2-3years | 29,980.70 |
Over3years | 53,538,730.92 |
3-4years | 731,394.97 |
4-5years | 405,650.00 |
Over5years | 52,401,685.95 |
Total | 64,123,845.40 |
Accrualofbaddebtprovisionbysingle:
InRMB
BadDebtReserves | Closingbookbalance | |||
Bookbalance | Baddebtprovision | Expectedcreditlossrate(%) | Reason | |
KunlunSecuritiesCo.,Ltd(Note1) | 47,528,056.18 | 47,528,056.18 | 100 | Baddebtshavebeenfullywithdrawninbankruptcy |
BeijingGelinEnzeOrganicFertilizerCo.,Ltd(Note2) | 4,007,679.91 | 4,007,679.91 | 100 | Thecompanyispoorlymanaged |
Total | 51,535,736.09 | 51,535,736.09 | 100 |
Note1:Theparentcompanyoncepaid33,683,774.79yuanintoKunlunSecuritiesCo.,Ltd,GuangdongExpresswaytechnologyinvestmentCo.,Ltdoncepaid18,000,000.00yuanintoKunlunSecuritiesCo.,Ltd.QinghaiProvinceXiningCity’sintermediatepeople’scourtmadeaadjudicationunderlawdeclaredthatKunlunSecuritiesCo.,LtdwentbankruptandrepaiddebtinNovember11,2006.OnMarch2007,TheCompanyandGuangdongExpresswayTechnologyInvestmentCo.,LtdhadswitchedthemoneythatpaidintoKunlunSecuritiesCo.,Ltdtootheraccountreceivable,andfollowthecarefulprincipletodoubtfuldebtsprovision.The710,349.92yuanCreditwasRecoveredin2008,The977,527.77yuancreditwasrecoveredin2011,The652,012.00yuanCreditwasrecoveredin2014,The1,815,828.92yuanCreditwasrecoveredin2018,andtheprovisionforhaddeb.
Note2:GuangdongExpresswayTechnologyinvestmentCo.,Ltd.shouldchargeBeijingGelinEnzeOrganicFertilizerCo.,Ltd.for12,220,079.91yuan.Eightmillionsofitwasentrustloan,threemillionwastemporaryborrowing12,400.00yuanisthecommissionloaninterest,therestofitwasadvancemoneyforanother,BeijingGelinEnzeOrganicFertilizerCo.,Ltd’soperatingstatuswashadandhadalreadyceasedproducing,Accordingly,thecontrollingsubsidiaryofthecompanyGuangdongExpresswayInvestmentCo.,Ltd.accountedfullprovisionforBaddebt12,220,079.91yuanprovision.Thecompanyin2014recoveredarrearsof8,000,000.00
yuan,rushedbacktotheprovisionforbaddebtsandwriteoffuncollectedinterestentrustedloansaccordingtotThesettlementagreementof212,400.00yuan.Disclosurebyaging
InRMB
Aging | Balanceinyear-end | BalanceYear-beginning | ||||
Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | |||
Amount | Proportion(%) | Amount | Proportion(%) | |||
Within1year(Including1year) | 2,959,338.22 | 98.92 | 46,729,242.63 | 97.97 | ||
1-2years | 935,820.00 | 1.96 | 93,582.00 | |||
2-3years | ||||||
3-4years | ||||||
4-5years | ||||||
Over5years | 32,457.98 | 1.08 | 32,457.98 | 32,457.98 | 0.07 | 32,457.98 |
Total | 2,991,796.20 | / | 32,457.98 | 47,697,520.61 | / | 126,039.98 |
Intheportfolio,otherreceivableswithbaddebtprovisionbyothermethods:
InRMB
Name | Balanceinyear-end | BalanceYear-beginning | ||||
Bookbalance | Baddebtprovision | Expectedcreditlossrate(%) | Bookbalance | Baddebtprovision | Expectedcreditlossrate(%) | |
Depositmoneyandqualityguaranteefundcombination | 8,815,245.54 | 9,694,869.85 | ||||
Other | 781,067.57 | 953,544.26 | ||||
Total | 9,596,313.11 | 10,648,414.11 |
2)Otheraccountsreceivableclassifiedbythenatureofaccounts
InRMB
Nature | Closingbookbalance | Openingbookbalance |
Balanceofsettlementfundsforsecuritiestransactions | 47,528,056.18 | 47,528,056.18 |
CapitalreductionduefromGangkang | 45,000,000.00 |
Pettycash | 4,538,885.93 | 5,654,205.42 |
GelinEnzeAccount | 4,007,679.91 | 4,007,679.91 |
Cashdeposit | 3,469,880.18 | 4,001,660.43 |
TranOthersaferoflong-termassetsreceivable | 935,820.00 | |
Other | 4,579,343.20 | 2,754,248.87 |
Less:Bad-debtprovision | 51,568,194.07 | 51,661,776.07 |
Total | 12,555,651.33 | 58,219,894.74 |
)Thewithdrawalamountofthebaddebtprovision:
InRMB
BadDebtReserves | Stage1 | Stage2 | Stage3 | Total |
Expectedcreditlossesoverthenext12months | Expectedcreditlossoverlife(nocreditimpairment) | Expectedcreditlossesfortheentireduration(creditimpairmentoccurred) | ||
BalanceasatJanuary1,2021 | 126,039.98 | 51,535,736.09 | 51,661,776.07 | |
BalanceasatJanuary1,2021incurrent | —— | —— | —— | —— |
Turnbackinthisperiod | -93,582.00 | -93,582.00 | ||
BalanceasatDecember31,,2021 | 32,457.98 | 51,535,736.09 | 51,568,194.07 |
Changesinsignificantbookbalancesforlosspreparationcurrentperiod
□Applicable√Notapplicable4)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision:
TheprovisionforbaddebtsinthecurrentperiodisRMB0.00;andtheamountofbaddebtreserverecoveredorreversedinthecurrentperiodisRMB93,582.00.
5)Theactualwrite-offotheraccountsreceivable:None
6)Top5oftheclosingbalanceoftheotheraccountsreceivablecollatedaccordingtothearrearsparty
InRMB
Name | Nature | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccounts | Closingbalanceofbaddebt |
receivable(%) | provision | ||||
KunlunSecuritiesCo.,Ltd | Securitiestradingsettlementfunds | 47,528,056.18 | Over5years | 74.12% | 47,528,056.18 |
GanzhouGankangExpresswayCo.,Ltd. | Currentaccount | 4,007,679.91 | Over5years | 6.25% | 4,007,679.91 |
GuangdongLitongRealEstatesInvestmentCo.,Ltd. | Deposit | 22,980.00 | Within1year | 0.04% | |
Vehicleparkingdeposit | 1,630,467.36 | 1-2years | 2.54% | ||
ChinaRailwayNo.18BureauGroupCo.,Ltd. | Surrogatepayment | 963,300.00 | Within1year | 1.50% | |
GuangdongExpresswayMediaCo.,Ltd. | Advertising | 649,386.62 | Within1Year | 1.01% | |
Total | -- | 54,801,870.07 | -- | 85.46% | 51,535,736.09 |
7)AccountsreceivableinvolvedwithgovernmentsubsidiesNone
8)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
9)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivableNone
5.InventoriesWhetherthecompanyneedtocomplywiththedisclosurerequirementsoftherealestateindustryNo
(1)CategoryofInventory
InRMB
Items | Closingbookbalance | Openingbookbalance | ||||
Bookbalance | Provisionforinventoryimpairment | Bookvalue | Bookbalance | Provisionforinventoryimpairment | Bookvalue | |
Rawmaterials | 257,831.85 | 257,831.85 | 49,380.53 | 49,380.53 | ||
Stockgoods | 382,247.81 | 382,247.81 | 4,380.53 | 4,380.53 | ||
Total | 640,079.66 | 640,079.66 | 53,761.06 | 53,761.06 |
(2)InventorydepreciationreserveNone
(3)DescriptionofTheclosingbalanceofinventoriescontaintheamountofborrowingcostscapitalizedNone
(4)DescriptionofamortizationamountofcontractperformancecostinthecurrentperiodNone
6.Contractassets
InRMB
Items | Year-endbalance | Year-beginningbalance | ||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |
Qualityguarantee | 5,286,462.45 | 5,286,462.45 | 5,452,813.90 | 5,452,813.90 | ||
Total | 5,286,462.45 | 5,286,462.45 | 5,452,813.90 | 5,452,813.90 |
Amountandreasonofmaterialchangeofbookvalueofcontractassetsinthecurrentperiod::NoneRelevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofcontractassetsisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√NotapplicableNone
7.Non-currentassetduewithin1year
InRMB
Items | Year-endbalance | Year-beginningbalance |
Pre-paymentofbusinesstaxbeforereplacingbusinesstaxwithVAT | 51,745.32 | 51,745.32 |
7daysnoticeofdepositinterest | 2,731,229.21 | |
Total | 2,782,974.53 | 51,745.32 |
8.Othercurrentassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Incometaxtobecertified | 21,213.96 | 27,051.69 |
Total | 21,213.96 | 27,051.69 |
9.Long-termequityinvestment
InRMB
Investees | Openingbalance | Increase/decrease | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
Additionalinvestment | Negativeinvestment | Investmentprofitandlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesofotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofimpairmentprovision | Other | ||||
I.Jointventure | |||||||||||
2.AffiliatedCompany | |||||||||||
ZhaoqingYuezhaoHighwayCo.,Ltd. | 302,436,218.83 | 53,076,732.52 | 39,675,000.00 | 315,837,951.35 | |||||||
GuangdongJiangzhongExpresswayCo.,Ltd. | 192,252,504.94 | 133,650,000.00 | 20,810,859.29 | 28,621,724.94 | 318,091,639.29 | ||||||
GanzhouGankangExpresswayCo.,Ltd. | 145,774,620.72 | 8,343,776.40 | 154,118,397.12 | ||||||||
GanzhouKangdaExpresswayCo.,Ltd. | 216,814,090.50 | 48,286,927.19 | 27,000,000.00 | 238,101,017.69 | |||||||
ShenzhenHuiyanExpresswayCo.,Ltd. | 285,408,755.15 | 35,557,629.02 | 320,966,384.17 | ||||||||
GuoyuanSecuritiesCo.,Ltd. | 938,476,820.74 | 44,593,073.57 | 9,716,087.81 | 20,696,516.40 | 972,089,465.72 | ||||||
GuangdongYuepuSmallRefinancingCo.,Ltd(Note) | 216,683,369.84 | 10,970,165.76 | -4,118,261.28 | 7,191,673.05 | 216,343,601.27 | ||||||
HunnanLianzhiTechnologyCo.,.Ltd. | 85,080,974.92 | 5,400,932.77 | 135,519.59 | 90,617,427.28 |
SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd. | 1,000,000.00 | -35,202.65 | 964,797.35 | ||||||
Subtotal | 2,382,927,355.64 | 134,650,000.00 | 227,004,893.87 | 9,716,087.81 | -3,982,741.69 | 123,184,914.39 | 2,627,130,681.24 | ||
Total | 2,382,927,355.64 | 134,650,000.00 | 227,004,893.87 | 9,716,087.81 | -3,982,741.69 | 123,184,914.39 | 2,627,130,681.24 |
Othernote
Note:GuangdongYuekeTechnologyPettyLoanCo.,Ltd.wasrenamedasGuangdongYuepuSmallRefinancingCo.,LtdinFebruary2021.
10.OtherEquityinstrumentinvestment
InRMB
Items | Closingbalance | Openingbalance |
GuangleExpresswayCo.,Ltd. | 746,129,411.97 | 748,348,301.73 |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 50,000,000.00 | 50,000,000.00 |
ChinaEverbrightBankCo.,Ltd. | 781,046,414.08 | 938,667,226.56 |
HuaxiaSecuritiesCo.,Ltd.(Notes1) | ||
HuazhengAssetManagementCo.,Ltd.(Notes2) | ||
KunlunSecuritiesCo.,Ltd.(Notes3) | ||
Total | 1,577,175,826.05 | 1,737,015,528.29 |
Breakdowndisclosureofinvestmentinnon-tradableequityinstrumentsinthecurrentperiod
InRMB
Items | Dividendincomerecognized | Cumulativegain | Cumulativeloss | Amountofotherconsolidatedincometransferredtoretainedearnings | Reasonsfordesignationasmeasuredatfairvalueandchangesincludedinothercomprehensiveincome | Reasonsforotherconsolidatedincometransferredtoretainedearnings |
GuangleExpresswayCo.,Ltd. | Non-transactionalpurposeforshareholding | |||||
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 652,822.25 | 8,455,606.40 | Non-transactionalpurposeforshareholding | |||
ChinaEverbrightBankCo.,Ltd. | 49,403,538.24 | 263,485,537.28 | Non-transactionalpurposeforshareholding | |||
HuaxiaSecuritiesCo.,Ltd.(Notes1) | 5,400,000.00 | Non-transactionalpurposeforshareholding | ||||
HuazhengAssetManagementCo.,Ltd.(Notes2) | 1,620,000.00 | Non-transactionalpurposeforshareholding | ||||
KunlunSecuritiesCo.,Ltd.(Notes3) | 30,000,000.00 | Non-transactionalpurposeforshareholding |
Othernote:
Note1:Theowner'sequityofHuaxiaSecuritiesCo.,Ltd.wasnegativeanditenteredliquidationprocedureinDecember2005.TheCompanymadefullprovisionforimpairmentinrespectofthislong-termequityinvestmentofRMB5.4million.Note2:AccordingtoDeWeiPingGuZi2005No.88AppraisalReportissuedbyBeijingDeweiAppraisalCo.,Ltd.AstheJune30,2005,theamountofnetassetsofHuazhengAssetManagementCo.,Ltd.inbookwas279.132millionyuanandtheappraisedvaluewas-2299.5486millionyuan,OnOctober14,2005,JianyinCITICAssetManagementCo.,Ltd.issuedtheLetterofSolicitingOpinionsonEquityAssignmenttotheCompany.JianyinCITICAssetManagementCo.,Ltd.waswillingtopaythepriceofnotmorethan42millionyuantoacquire100%equityofHuazhengAssetManagementCo.,Ltd.andsolicitedtheCompany'sopinions.TheCompanyrepliedonDecember5,2005,abandoningthepreemptiverightunderthesameconditions.TheCompanymadeprovisionof1.3932millionyuanforimpairmentinrespectofthislong-termequityinvestmentof1.62million
yuan.Note3.Theowner'sequityofKunlunSecuritiesCo.,Ltd.wasnegativeanditenteredliquidationprocedureinOctober2005.AwhollyownedsubsidiaryofGuangdongExpresswayTechnologyInvestmentCo.,Ltd.WillinvestKunlunSecuritiesCo.,Ltd.'sfullprovisionforimpairmentof30millionyuan.
11.Investmentproperty
(1)Investmentpropertyadoptedthecostmeasurementmode
√Applicable□Notapplicable
InRMB
Items | Housesandbuildings | Landuseright | Constructioninprogress | Total |
I.Originalvalue | ||||
1.Openingbalance | 12,664,698.25 | 2,971,831.10 | 15,636,529.35 | |
2.Increasedamountoftheperiod | ||||
I.Originalvalue | ||||
1.Openingbalance | ||||
2.Increasedamountoftheperiod |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
(2)OtherOut |
4.Closingbalance
4.Closingbalance | 12,664,698.25 | 2,971,831.10 | 15,636,529.35 | |
II.Accumulateddepreciationaccumulatedamortization | ||||
1.Openingbalance | 10,694,640.90 | 1,831,506.56 | 12,526,147.46 | |
2.Increasedamountoftheperiod | 147,549.12 | 73,569.36 | 221,118.48 | |
(1)Withdrawaloramortization | 147,549.12 | 73,569.36 | 221,118.48 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
(2)OtherOut |
4.Closingbalance
4.Closingbalance | 10,842,190.02 | 1,905,075.92 | 12,747,265.94 | |
III.Impairmentprovision |
Items | Housesandbuildings | Landuseright | Constructioninprogress | Total |
1.Openingbalance | ||||
2.Increasedamountoftheperiod | ||||
(1)Withdrawal |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
(2)OtherOut |
4.Closingbalance
4.Closingbalance | ||||
IV.Bookvalue | ||||
1.Closingbookvalue | 1,822,508.23 | 1,066,755.18 | 2,889,263.41 | |
2.Openingbook | 1,970,057.35 | 1,140,324.54 | 3,110,381.89 |
(2)Investmentpropertyadoptedfairvaluemeasurementmode
□Applicable√Notapplicable
(3)Detailsofinvestmentpropertyfailedtoaccomplishcertificationofproperty
InRMB
Items | Bookbalance | Reason |
HousesandBuilding | 893,059.37 | ThelandownershipisheldbyGuangdongExpresswayCo.,Ltd.,anditisimpossibletoapplyfortherealestateownershipcertificate |
Dalitollstationmanagementofficehouse | 252,138.25 | Transportationandotherancillaryfacilities,Notaccreditation |
Total | 1,145,197.62 |
12.Fixedassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Fixedassets | 10,639,272,192.02 | 11,540,066,429.69 |
liquidationoffixedassets | 9,500.00 | |
Total | 10,639,272,192.02 | 11,540,075,929.69 |
(1)Listoffixedassets
InRMB
Items | GuangfoExpressway | FokaiExpressway | GuanghuiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Officeequipmentandother | Total |
I.Originalprice | |||||||||
1.Openingbalance | 1,460,270,190.66 | 10,892,817,927.30 | 6,475,428,904.48 | 4,824,881,424.98 | 653,156,798.92 | 1,807,080,795.89 | 61,427,688.89 | 134,245,998.01 | 26,309,309,729.13 |
2.Increasedamountoftheperiod | 2,421,073.00 | 312,207,724.11 | 16,808,970.00 | -5,164,956.17 | 3,011,716.06 | 19,920,495.30 | 349,205,022.30 | ||
(1)Purchase | 11,173,862.02 | 3,011,716.06 | 7,735,426.86 | 21,921,004.94 | |||||
(2)Transferofprojectunderconstruction | 2,421,073.00 | 295,997,616.11 | 10,689,866.00 | 31,687,265.76 | 12,185,068.44 | 352,980,889.31 | |||
(3)IncreasedofEnterpriseconsolidation | |||||||||
(4)Other | 16,210,108.00 | 6,119,104.00 | -48,026,083.95 | -25,696,871.95 | |||||
3.Decreasedamountoftheperiod | 1,101,457.64 | 129,039.00 | 19,378,135.56 | 2,328,790.00 | 20,521,890.73 | 43,459,312.93 | |||
(1)Disposalorscrap | 1,101,457.64 | 129,039.00 | 19,378,135.56 | 2,328,790.00 | 4,311,782.73 | 27,249,204.93 | |||
(2)OtherOut | 16,210,108.00 | 16,210,108.00 | |||||||
4.Closingbalance | 1,460,270,190.66 | 10,892,817,927.30 | 6,477,849,977.48 | 5,135,987,691.45 | 669,836,729.92 | 1,782,537,704.16 | 62,110,614.95 | 133,644,602.58 | 26,615,055,438.50 |
II.Accumulateddepreciation |
Items | GuangfoExpressway | FokaiExpressway | GuanghuiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Officeequipmentandother | Total |
1.Openingbalance | 1,460,270,190.66 | 4,999,612,912.32 | 3,571,631,502.43 | 2,994,964,464.08 | 432,913,163.79 | 1,174,349,065.14 | 49,827,783.08 | 77,204,103.16 | 14,760,773,184.66 |
2.Increasedamountoftheperiod | 486,469,903.27 | 378,884,157.42 | 170,327,458.05 | 28,676,325.89 | 151,843,061.24 | 2,149,917.28 | 11,390,182.31 | 1,229,741,005.46 | |
(1)Withdrawal | 486,469,903.27 | 378,884,157.42 | 170,327,458.05 | 28,676,325.89 | 151,843,061.24 | 2,149,917.28 | 11,390,182.31 | 1,229,741,005.46 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod | 711,104.22 | 122,587.05 | 12,310,440.12 | 2,197,518.50 | 3,510,606.85 | 18,852,256.74 | |
(1)Disposalorscrap | 711,104.22 | 122,587.05 | 12,310,440.12 | 2,197,518.50 | 3,510,606.85 | 18,852,256.74 |
4.Closingbalance
4.Closingbalance | 1,460,270,190.66 | 5,486,082,815.59 | 3,950,515,659.85 | 3,164,580,817.91 | 461,466,902.63 | 1,313,881,686.26 | 49,780,181.86 | 85,083,678.62 | 15,971,661,933.38 |
II.Accumulateddepreciation | |||||||||
1.Openingbalance | 7,870,708.82 | 599,405.96 | 8,470,114.78 | ||||||
2.Increasedamountoftheperiod | 2,889,394.16 | 2,889,394.16 | |||||||
(1)Withdrawal | 2,889,394.16 | 2,889,394.16 |
3.Decreasedamountofthe
period
3.Decreasedamountoftheperiod | 6,638,789.88 | 599,405.96 | 7,238,195.84 | ||
(1)Disposalorscrap | 6,638,789.88 | 599,405.96 | 7,238,195.84 |
Items | GuangfoExpressway | FokaiExpressway | GuanghuiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Officeequipmentandother | Total |
4.Closingbalance
4.Closingbalance | 2,889,394.16 | 1,231,918.94 | 4,121,313.10 | ||||||
IV.Bookvalue | |||||||||
1.Closingbookvalue | 5,406,735,111.71 | 2,527,334,317.63 | 1,971,406,873.54 | 205,480,433.13 | 467,424,098.96 | 12,330,433.09 | 48,560,923.96 | 10,639,272,192.02 | |
2.Openingbook | 5,893,205,014.98 | 2,903,797,402.05 | 1,829,916,960.90 | 220,243,635.13 | 624,861,021.93 | 11,599,905.81 | 56,442,488.89 | 11,540,066,429.69 |
⑵Temporarilyidlefixedassets
InRMB
Items | Originalprice | Accumulateddepreciation | Impairmentprovision | Bookvalue | Remark |
Houseandbuildings | 6,176,339.21 | 4,400,874.00 | 1,775,465.21 | ||
Machineryequipment | 2,322,167.00 | 1,090,248.06 | 1,231,918.94 |
⑶Fixedassetsleasedoutthroughoperatingleases:None
(4)Detailsoffixedassetsfailedtoaccomplishcertificationofproperty
InRMB
Items | Bookvalue | Reason |
Transportationandotherancillaryfacilities | 175,378,186.85 | Transportationandotherancillaryfacilities,Notaccreditation. |
(
)liquidationoffixedassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Officeequipment | 9,500.00 | |
Total | 9,500.00 |
13.Projectunderconstruction
InRMB
Items | Year-endbalance | Year-beginningbalance |
Projectunderconstruction | 351,130,455.06 | 340,611,095.47 |
Total | 351,130,455.06 | 340,611,095.47 |
(1)Projectunderconstruction
InRMB
Items | Year-endbalance | Year-beginningbalance | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
GualuhuInterchangeproject | 160,502,763.61 | 160,502,763.61 | 52,045,974.12 | 52,045,974.12 |
Items | Year-endbalance | Year-beginningbalance | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
HuizhouNorthInterchangeProject | 105,046,556.00 | 105,046,556.00 | 283,432.73 | 283,432.73 | ||
ReconstructionandExpansionofSanbaotoShuikou | 42,058,703.12 | 42,058,703.12 | 29,547,232.58 | 29,547,232.58 | ||
ReconstructionandExpansionofNansha-ZhuhaisectionofGuangzhou-MacaoExpressway | 17,636,216.62 | 17,636,216.62 | ||||
ExpansionProjectofCrossingSectionofJiangxi-ShenzhenHigh-speedRailway | 14,470,943.98 | 14,470,943.98 | 2,555,353.00 | 2,555,353.00 | ||
ExpansionProjectofLuogang-LingkengSection | 7,383,321.30 | 7,383,321.30 | 3,531,207.30 | 3,531,207.30 | ||
TanweiBridgeShipCollisionPreventionProject | 1,749,246.00 | 1,749,246.00 | ||||
IntelligentTransformationProjectforMonitoringSystemofFoshan-KaipingExpressway(PhaseII) | 1,535,540.00 | 1,535,540.00 | ||||
Othersporadicprojects | 747,164.43 | 747,164.43 | 2,778,800.00 | 2,778,800.00 | ||
TransformationandCapacityExpansionProjectofPowerDistributioninSiqian,GongheDistrictandYayaoServiceAreaofFoshan-KaipingExpressway | 3,224,884.00 | 3,224,884.00 | ||||
IntelligentReconstructionProjectofMonitoringSystemofFoshan-KaipingExpressway | 1,747,854.66 | 1,747,854.66 | ||||
ReconstructionProjectforOutfieldMessageSignsofFoshan-KaipingExpressway | 2,554,560.56 | 2,554,560.56 | ||||
SmartTransformationProjectofYayaoServiceAreaofFoshan-KaipingExpressway | 2,344,492.58 | 2,344,492.58 | ||||
Upgradeandreconstruction | 2,117,334.20 | 2,117,334.20 |
Items | Year-endbalance | Year-beginningbalance | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
projectfundforvariablemessagesigns | ||||||
MonitoringandreconstructionprojectfundforGuangzhou-Foshancommandroadnetwork | 1,910,901.89 | 1,910,901.89 | ||||
ConstructionProjectforMaintenanceBasein2018 | 2,624,661.74 | 2,624,661.74 | ||||
Preparationoflandspacecontrolplanforreconstructionandexpansion | 1,213,005.54 | 1,213,005.54 | ||||
Civilserviceareachargingstation | 1,266,602.00 | 1,266,602.00 | ||||
ConstructionProjectofComprehensiveMaintenanceBase | 5,493,791.00 | 5,493,791.00 | ||||
WideningProjectforNortheastFreightCarSurroundingLineofGuangzhou-HuizhouExpresswayUnderpassingGuangzhouRailwayHub | 1,919,199.00 | 1,919,199.00 | ||||
PavementTreatmentProject | 105,958,479.27 | 105,958,479.27 | ||||
BridgeDeckTreatmentProjectofDayongViaduct | 117,493,329.30 | 117,493,329.30 | ||||
Total | 351,130,455.06 | 351,130,455.06 | 340,611,095.47 | 340,611,095.47 |
(2)Changesofsignificantconstructioninprogress
InRMB
Nameofproject | Budget | Openingbalance | Increase | Transferredtofixedassets | Otherdecrease | Endbalance | Proportion% | Projectprocess | Capitalizationofinterest | Including:capitalizationofinterestthisperiod | Capitalizationofinterestrate(%) | Sourceoffunding |
ReconstructionandExpansionofSanbaotoShuikou | 3,426,206,700.00 | 29,547,232.58 | 12,712,309.82 | 200,839.28 | 42,058,703.12 | 76.13% | 82.29 | 72,779,504.82 | Other | |||
ReconstructionandExpansionofNansha-ZhuhaisectionofGuangzhou-MacaoExpressway | 13,326,000,000.00 | 3,502,229.54 | 14,759,140.08 | 625,153.00 | 17,636,216.62 | 0.13% | 0.13 | Other | ||||
GualuhuInterchangeproject | 203,460,000.00 | 52,045,974.12 | 108,470,787.49 | 13,998.00 | 160,502,763.61 | 78.89% | 78.89 | Other | ||||
PavementTreatmentProject | 186,000,000.00 | 105,958,479.27 | 64,659,546.12 | 170,618,025.39 | 91.73% | 100.00 | 5,785,964.09 | 3,305,948.95 | 4.07% | Other | ||
BridgeDeckTreatment | 123,000,000.00 | 117,493,329.30 | 7,886,261.42 | 125,379,590.72 | 101.93% | 100.00 | 8,579,841.36 | 3,938,652.42 | 4.07% | Other |
ProjectofDayongViaduct | ||||||||||||
ExpansionProjectofCrossingSectionofJiangxi-ShenzhenHigh-speedRailway | 14,790,000.00 | 2,555,353.00 | 11,915,590.98 | 14,470,943.98 | 97.84% | 97.84 | Other | |||||
HuizhouNorthInterchangeProject | 134,170,000.00 | 283,432.73 | 104,763,123.27 | 105,046,556.00 | 78.29% | 78.29 | Other | |||||
Total | 17,413,626,700.00 | 311,386,030.54 | 325,166,759.18 | 296,212,453.39 | 625,153.00 | 339,715,183.33 | -- | -- | 87,145,310.27 | 7,244,601.37 | -- |
(3)ProvisionforimpairmentofconstructionprojectsinthecurrentperiodNone
(4)EngineeringMaterials:None
14.Userightassets
InRMB
Items | Houseandbuildings | Machineryequipment | Transportationequipment | Other | Total |
1.Openingbalance | 21,487,031.29 | 659,277.49 | 1,007,747.00 | 23,154,055.78 | |
2.Increasedamountoftheperiod | 357,112.19 | 504,113.56 | 861,225.75 | ||
(1)Newlease | 357,112.19 | 504,113.56 | 861,225.75 | ||
4.Closingbalance | 21,487,031.29 | 357,112.19 | 1,163,391.05 | 1,007,747.00 | 24,015,281.53 |
2.Increasedamountoftheperiod | 9,208,727.65 | 71,422.44 | 527,788.99 | 107,017.44 | 9,914,956.52 |
(1)Withdrawal | 9,208,727.65 | 71,422.44 | 527,788.99 | 107,017.44 | 9,914,956.52 |
4.Closingbalance | 9,208,727.65 | 71,422.44 | 527,788.99 | 107,017.44 | 9,914,956.52 |
1.Closingbookvalue | 12,278,303.64 | 285,689.75 | 635,602.06 | 900,729.56 | 14,100,325.01 |
2.Openingbookvalue | 21,487,031.29 | 659,277.49 | 1,007,747.00 | 23,154,055.78 |
15.Intangibleassets
(1)Listofintangibleassets
InRMB
Items | Landuseright | Software | TheTurnpikefranchise | Total |
I.Originalprice | ||||
1.Openingbalance | 1,311,658.00 | 39,912,285.19 | 318,348,741.86 | 359,572,685.05 |
2.Increasedamountoftheperiod | 2,636,504.97 | 2,636,504.97 | ||
(1)Purchase | 1,932,544.17 | 1,932,544.17 | ||
(2)InternalDevelopment | 703,960.80 | 703,960.80 | ||
(3)IncreasedofEnterpriseCombination |
Items | Landuseright | Software | TheTurnpikefranchise | Total |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod | 485,000.00 | 485,000.00 | ||
(1)Disposal | 485,000.00 | 485,000.00 |
4.Closingbalance
4.Closingbalance | 1,311,658.00 | 42,063,790.16 | 318,348,741.86 | 361,724,190.02 |
II.Accumulatedamortization | ||||
1.Openingbalance | 1,311,658.00 | 32,458,724.38 | 23,420,946.15 | 57,191,328.53 |
2.Increasedamountoftheperiod | 2,829,668.00 | 33,684,017.06 | 36,513,685.06 | |
(1)Withdrawal | 2,829,668.00 | 33,684,017.06 | 36,513,685.06 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod | 485,000.00 | 485,000.00 | ||
(1)Disposal | 485,000.00 | 485,000.00 |
4.Closingbalance
4.Closingbalance | 1,311,658.00 | 34,803,392.38 | 57,104,963.21 | 93,220,013.59 |
III.Impairmentprovision | ||||
1.Openingbalance | ||||
2.Increasedamountoftheperiod | ||||
(1)Withdrawal |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
4.Closingbalance
4.Closingbalance |
IV.Bookvalue |
Items | Landuseright | Software | TheTurnpikefranchise | Total |
1.Closingbookvalue | 7,260,397.78 | 261,243,778.65 | 268,504,176.43 | |
2.Openingbookvalue | 7,453,560.81 | 294,927,795.71 | 302,381,356.52 |
Theintangibleassetsbytheendoftheformationofthecompany'sinternalR&Daccounted0.26%oftheproportionofthebalanceofintangibleassets⑵DetailsofLanduserightfailedtoaccomplishcertificationofpropertyNone
16.Developmentexpenses
InRMB
Items | Balanceinyear-begin | Increaseinthisperiod | Decreaseinthisperiod | Balanceinyear-end | ||||
Internaldevelopmentexpenditure | Other | Recognizedasintangibleassets | Transfertocurrentprofitandloss | |||||
SmartPartyBuildingCloudPlatform | 703,960.80 | 703,960.80 | ||||||
Total | 703,960.80 | 703,960.80 |
17.Long-termamortizeexpenses
InRMB
Items | Balanceinyear-begin | Increaseinthisperiod | Amortizedexpenses | Otherloss | Balanceinyear-end |
Prepaidbusinesstaxandsurchargesbeforereplacementofbusinesstaxwithvalue-addedtax | 2,454,375.00 | 350,625.00 | 2,103,750.00 | ||
Total | 2,454,375.00 | 350,625.00 | 2,103,750.00 |
18.Deferredincometaxassets/deferredincometaxliabilities
(1)Deferredincometaxassetshadnotbeenoff-set
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||
Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
Assetsimpairmentprovisions | 7,264,977.10 | 1,816,244.28 | 8,705,572.14 | 2,176,393.04 |
Deductibleloss | 671,918,486.05 | 167,979,621.51 | 1,000,101,381.76 | 250,025,345.44 |
Assetappraisal,appreciation,depreciationandamortization | 190,813,984.60 | 47,703,496.15 | 269,669,149.91 | 67,417,287.48 |
Deferredincome | 30,978,093.11 | 7,744,523.33 | 44,545,569.73 | 11,136,392.43 |
Total | 900,975,540.86 | 225,243,885.27 | 1,323,021,673.54 | 330,755,418.39 |
(2)Deferredincometaxliabilitieshadnotbeenoff-set
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||
Deductibletemporarydifference | Deferredincometaxliabilities | Deductibletemporarydifference | Deferredincometaxliabilities | |
Changesinthefairvalueofotherequityinstruments | 263,485,537.28 | 65,871,384.32 | 421,106,349.76 | 105,276,587.44 |
Deductibletemporarydifferencesintheformationofassetimpairment | 995,623,507.00 | 248,905,876.75 | 1,124,772,402.32 | 281,193,100.58 |
Differenceofamortizationmethodoffranchiseoftollroad | 4,580,106.28 | 1,145,026.57 | 2,533,490.83 | 633,372.72 |
Total | 1,263,689,150.56 | 315,922,287.64 | 1,548,412,242.91 | 387,103,060.74 |
(3)Deferredincometaxassetsorliabilitieslistedasnetafteroffset:None
(4)Detailsofunrecognizeddeferredtaxassets
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Deductibleloss | 15,342,382.11 | 11,452,524.12 |
Assetsimpairmentprovisions | 93,406,200.73 | 91,984,931.50 |
Total | 108,748,582.84 | 103,437,455.62 |
(5)Deductiblelossesoftheun-recognizeddeferredincometaxassetwillexpireinthefollowingyears
InRMB
Year | Balanceinyear-end | BalanceYear-beginning | Remark |
2022 | 1,133,109.04 | 1,133,109.04 | |
2023 | 3,129,535.72 | 3,129,535.72 | |
2024 | 3,618,779.07 | 3,618,779.07 | |
2025 | 3,571,100.29 | 3,571,100.29 | |
2026 | 3,889,857.99 | ||
Total | 15,342,382.11 | 11,452,524.12 | -- |
19.OtherNon-currentassets
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
Prepaidfixedassetsengineeringfees | 24,675,415.36 | 24,675,415.36 | 21,946,578.75 | 21,946,578.75 | ||
Prepaidbusinesstax | 415,282.44 | 415,282.44 | 467,027.76 | 467,027.76 | ||
Less:Partduewithin1year | 51,745.32 | 51,745.32 | 51,745.32 | 51,745.32 | ||
Total | 25,038,952.48 | 25,038,952.48 | 22,361,861.19 | 22,361,861.19 |
20.Short-termBorrowing
(1)Short-termBorrowing
InRMB
Total | Balanceinyear-end | BalanceYear-beginning |
CreditBorrowing | 200,000,000.00 | |
Interestaccruedonshort-termborrowing | 192,500.00 |
Total | 200,192,500.00 |
Note:
(2)Overdueshort-termborrowings
None
21.Accountpayable
(1)Listofaccountpayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Within1year(Including1year) | 137,346,075.15 | 252,654,968.64 |
1-2years(including2years) | 32,260,718.56 | 44,097,234.36 |
2-3years(including3years) | 30,239,953.68 | 10,392,605.88 |
Over3years | 64,640,392.05 | 62,628,533.83 |
Total | 264,487,139.44 | 369,773,342.71 |
(2)Significantpayableagingmorethan1year
InRMB
Items | Balanceinyear-end | Reason |
FoshanLandandresourcesBureau. | 30,507,598.21 | Unsettled |
GuangZhongjiangExpresswayprojectManagementDept | 28,000,000.00 | Unsettled |
GuangzhouTuzhilingComputertechnologyCo.,Ltd. | 12,191,821.25 | Unsettled |
HeshanLandandresourcesBureau | 10,186,893.60 | Unsettled |
GuangzhouHaohangElectronicTechnologyCo.,Ltd | 4,727,834.00 | Unsettled |
Total | 85,614,147.06 | -- |
22.Prepaymentreceived
(1)ListofPrepaymentreceived
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Within1year(Including1year) | 1,937,127.54 | 1,473,106.10 |
1-2years(Including2years) | 2,777.78 | |
2-3years(Including3years) | ||
Over3years | 8,720,303.19 | 9,835,901.31 |
Total | 10,660,208.51 | 11,309,007.41 |
(2)Significantadvancefromcustomersagingoveroneyear
InRMB
Items | Balanceinyear-end | Unpaid/Uncarryoverreason |
GuanghdongXinleTechnologyDevelopmentCo.,Ltd. | 1,208,054.33 | Therentisnotbeforethesettlementperiod |
GuangzhouHuanlongExpresswayCo.,Ltd. | 7,115,729.78 | Landrenthasnotreachedthesettlementperiod |
Total | 8,323,784.11 | -- |
23.Contractliabilities
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Paymentsreceivedinadvance | 22,000.00 | 309,734.51 |
Total | 22,000.00 | 309,734.51 |
24.PayableEmployeewage
(1)PayableEmployeewage
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
I.Short-termcompensation | 16,726,198.13 | 447,448,460.13 | 444,961,026.35 | 19,213,631.91 |
II.Post-employmentbenefits-definedcontributionplans | 62,652,104.74 | 62,652,104.74 | ||
III.Dismissalbenefits | 198,182.02 | 198,182.02 | ||
Total | 16,726,198.13 | 510,298,746.89 | 507,811,313.11 | 19,213,631.91 |
(2)Short-termRemuneration
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
1.Wages,bonuses,allowancesandsubsidies | 465,063.49 | 340,740,046.58 | 340,699,546.60 | 505,563.47 |
2.Employeewelfare | 32,369,962.85 | 32,369,962.85 | ||
3.Socialinsurancepremiums | 23,551,217.77 | 23,551,217.77 | ||
Including:Medicalinsurance | 14,959,123.05 | 14,959,123.05 | ||
Workinjuryinsurance | 287,654.22 | 287,654.22 | ||
Maternityinsurance | 2,354,828.86 | 2,354,828.86 | ||
Other | 5,949,611.64 | 5,949,611.64 | ||
4.Publicreservesforhousing | 37,756,867.08 | 37,756,867.08 | ||
5.Unionfundsandstaffeducationfee | 14,578,979.10 | 11,097,190.10 | 9,193,047.40 | 16,483,121.80 |
8.Other | 1,682,155.54 | 1,933,175.75 | 1,390,384.65 | 2,224,946.64 |
Total | 16,726,198.13 | 447,448,460.13 | 444,961,026.35 | 19,213,631.91 |
(3)Definedcontributionplanslisted
InRMB
Items | BalanceYear-beginning | Increaseinthisperiod | Payableinthisperiod | Balanceinyear-end |
1.Basicold-ageinsurancepremiums | 35,904,176.87 | 35,904,176.87 | ||
2.Unemploymentinsurance | 1,030,413.16 | 1,030,413.16 | ||
3.Enterpriseannuitypayment | 25,717,514.71 | 25,717,514.71 | ||
Total | 62,652,104.74 | 62,652,104.74 |
25.TaxPayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
VAT | 15,734,725.35 | 19,253,425.01 |
EnterpriseIncometax | 143,478,849.99 | 192,073,414.37 |
IndividualIncometax | 3,202,322.06 | 2,589,498.58 |
CityConstructiontax | 1,044,325.22 | 1,270,608.27 |
Educationsubjoin | 492,391.84 | 594,019.27 |
LocalityEducationsubjoin | 308,823.69 | 376,577.48 |
Vehicleandvesseltax | ||
Landusetax | ||
Propertytax | 110,493.45 | 45,461.47 |
Stamptax | 240,581.39 | 1,514,826.65 |
Other | 30,561.68 | |
Total | 164,612,512.99 | 217,748,392.78 |
26.Otheraccountspayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Dividendpayable | 22,941,943.24 | 22,262,804.39 |
Otheraccountpayable | 155,028,540.52 | 1,490,356,555.39 |
Total | 177,970,483.76 | 1,512,619,359.78 |
(1)Interestpayable:None
(2)Dividendspayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Commonstockdividends | 22,941,943.24 | 22,262,804.39 |
Total | 22,941,943.24 | 22,262,804.39 |
Otherexplanations,includingimportantdividendspayablethathavenotbeenpaidformorethanoneyear,shalldisclosethereasonsfornonpayment:
Amongthedividendspayableattheendoftheperiod,21473837.46yuanisthedividendofshareholderswhohavenotpaidformorethanoneyear,whichismainlyduetothefailureofshareholderstoprovidethebankinformationforinterestpayment,theapplicationforreceivingdividendsprovidedbyshareholderswhohavenotundergonesharereform,ortheerrorinprovidingthebankinformationforreceivingdividends,resultinginthefailureoftimelypaymentofdividends.
(3)Otheraccountspayable
(1)Otheraccountspayablelistedbynatureoftheaccount
InRMB
Items | Year-endbalance | Year-Beginningbalance |
M&AfundspayabletoGuanghui21%equity | 1,221,839,292.00 | |
Estimatedprojectcost | 42,394,262.23 | 146,192,899.83 |
Deposit,warrantyandsecuritydeposit | 77,685,535.90 | 83,526,214.67 |
Other | 34,948,742.39 | 36,710,267.87 |
Temporarycollectionpayable | 2,087,881.02 | |
Total | 155,028,540.52 | 1,490,356,555.39 |
(2)Othersignificantaccountspayablewithagingoveroneyear
InRMB
Items | Closingbalance | Unpaid/un-carryoverreason |
PolyChangdaHighwayEngineeringCo.,Ltd. | 15,067,509.46 | Thesettlementconditionshavenotyetbeenme |
YayaotoXiebianextension | 12,499,448.48 | Thesettlementconditionshavenotyetbeenme |
GuangdongGuanyueRoad&BridgeCo.,Ltd. | 7,618,479.80 | Thesettlementconditionshavenotyetbeenme |
GuangdongNengdaHighGradeHighwayMaintenanceCo.,Ltd. | 3,920,602.10 | Thesettlementconditionshavenotyetbeenme |
DahaoMunicipalConstructionCo.,Ltd. | 3,000,000.00 | Thesettlementconditionshavenotyetbeenme |
Total | 42,106,039.84 | -- |
27.Non-currentliabilitiesduewithin1year
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Long-termloansduewithin1year | 465,576,600.00 | 203,536,200.00 |
Bondpayableduewithin1year | ||
Long-termpayableduewithin1year | 944,339.62 | 732,075.46 |
Leaseliabilitiesduewithin1year | 12,474,474.87 | 9,124,680.86 |
Interestpayableduewithin1year | 46,648,953.77 | 62,059,742.01 |
Total | 525,644,368.26 | 275,452,698.33 |
28.Othercurrentliabilities
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Taxtoberewritten | 726,336.48 | 648,581.64 |
Total | 726,336.48 | 648,581.64 |
29.Long-termloan
(1)Categoryoflong-termloan
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Pledgeloan | 582,195,000.00 | 657,365,000.00 |
Creditloan | 4,456,002,800.00 | 4,523,610,000.00 |
Less:Long-termloansduewithinoneyear | 465,576,600.00 | 203,536,200.00 |
Total | 4,572,621,200.00 | 4,977,438,800.00 |
30.Bondpayable
(1)Bondpayable
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Medium-termnote | 1,427,434,086.58 | 1,426,488,336.65 |
Total | 1,427,434,086.58 | 1,426,488,336.65 |
(2)Changesofbondspayable(Notincludingtheotherfinancialinstrumentofpreferredstockandperpetualcapitalsecuritiesthatclassifyasfinancialliability
InRMB
Nameofthebond | Bookvalue | Issuedate | Period | Issueamount | Openingbalance | Thecurrentissue | Withdrawinterestatpar | Overflowdiscountamount | Payincurrentperiod | Closingbalance |
19GuangdongExpresswayMTN001 | 680,000,000.00 | 2019.2.27 | 2019.3.1-2024.3.1 | 680,000,000.00 | 678,575,316.87 | -450,549.72 | 679,025,866.59 | |||
20GuangdongExpresswayMTN001 | 750,000,000.00 | 2020.3.13 | 2020.3.17-2025.3.17 | 750,000,000.00 | 747,913,019.78 | -495,200.21 | 748,408,219.99 | |||
Total | -- | -- | -- | 1,430,000,000.00 | 1,426,488,336.65 | -945,749.93 | 1,427,434,086.58 |
(3)NotetoconditionsandtimeofsharetransferofconvertiblebondsNone
(4)OtherfinancialinstrumentsthatareclassifiedasfinancialliabilitiesNone
31.Leaseliabilities
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Long-termleaseliabilities | 15,247,934.63 | 21,369,895.75 |
Less:Leaseliabilitiesduewithin1year | 12,474,474.87 | 9,124,680.86 |
Total | 2,773,459.76 | 12,245,214.89 |
32.Long-termpayable
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Long-termpayable | 3,461,832.74 | 40,406,172.37 |
Total | 3,461,832.74 | 40,406,172.37 |
(1)Long-termpayablelistedbynatureoftheaccount
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Non-operatingassetpayable | 2,022,210.11 | 2,022,210.11 |
Entrustloans | 36,000,000.00 | |
Mediumtermbillunderwritingfee | 2,383,962.25 | 3,116,037.72 |
Less:Partduewithin1year | 944,339.62 | 732,075.46 |
Total | 3,461,832.74 | 40,406,172.37 |
33.Deferredincome
InRMB
Items | Openingbalance | Increase | Decrease | Closingbalance | Cause |
Governmentsubsidy | 44,545,569.64 | 13,567,476.53 | 30,978,093.11 | ||
Leaseincome | 44,625,000.00 | 6,375,000.00 | 38,250,000.00 | ||
Total | 89,170,569.64 | 19,942,476.53 | 69,228,093.11 | -- |
34.Stockcapital
InRMB
BalanceYear-beginning | Changed(+,-) | Balanceinyear-end | |||||
Issuanceofnewshare | Bonusshares | Capitalizationofpublicreserve | Other | Subtotal | |||
Totalofshares | 2,090,806,126.00 | 2,090,806,126.00 |
35.Capitalreserves
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
Sharepremium | 508,711,146.99 | 508,711,146.99 | ||
(1)Capitalinvestedbyinvestors | 2,508,408,342.99 | 2,508,408,342.99 | ||
(2)Influenceofbusinesscombinationunderthesamecontrol | -1,999,697,196.00 | 1,999,697,196.00 | ||
Othercapitalreserves | 137,258,063.49 | 71,609,569.29 | 4,118,261.28 | 204,749,371.50 |
(1)Changesinotherequityoftheinvesteeundertheequityaccounting | 525,074.49 | 135,519.59 | 4,118,261.28 | -3,457,667.20 |
(2)Other | 136,732,989.00 | 71,474,049.70 | 208,207,038.70 | |
Total | 645,969,210.48 | 71,609,569.29 | 4,118,261.28 | 713,460,518.49 |
-Thesituationofchangeinthecurrentcapitalreserveisasfollows:
1.Thechangesincapitalreserve-otherequityinthecurrentperiodisduetothecapitalincreaseandshareexpansionofthejointventureHunanLianzhiTechnologyCo.,LtdandGuangdongYuepuMicrofinanceCo.,Ltd.TheCompanyhasadjustedthebookvalueoflong-termequityinvestmentaccordingtothedilutedshareholdingratio,resultinginanincreaseofRMB135,519.59andadecreaseofRMB4,118,261.28incapitalreserverespectively.
2.Currentcapitalreserve-otherincreasesmainlydueto
①TheagreementsignedbyGuangzhou-HuizhouCompanyandZengchengDistrictPeople'sGovernmenttoaddinterchangeonZengchengSectionofGuangzhou-HuizhouExpressway,whichstipulatesthatGuangzhou-HuizhouCompanywillbuildShaningRoadInterchangeandXinchengAvenueInterchange,andallexpensesincurredinbuildinginterchangewillbebornebyZengchengDistrictPeople'sGovernment.
②TheagreementsignedbyGuangzhou-HuizhouCompanyandHuizhouTransportationBureautoaddChangkengInterchange(tentativename)onGuangzhou-HuizhouExpressway,whichstipulatesthatGuangzhou-HuizhouCompanywillbuildChangkengInterchange(renamedHuizhouNorthInterchange),andalltheexpensesincurredintheconstructionofInterchangewillbebornebyGuangzhou-HuizhouCompany,and
HuizhouTransportationBureauwillgiveGuangzhou-HuizhouCompanyafinancialsubsidyofRMB1.05million.Aftertheaboveprojectiscompleted,itwillbemanagedbyGuangzhou-HuizhouCompany.AtotalofRMB268,103,900.00wasreceivedfromZengchengDistrictGovernmentatthebeginningoftheperiod,ofwhichtheopeningbalanceofcapitalreserveattributabletotheparentcompany-othercapitalreservewasRMB136,732,989.00,andRMB140,145,195.50wasnewlyreceivedinthisperiod,ofwhichcapitalreserveattributabletotheparentcompany-othercapitalreserveincreasedbyRMB71,474,049.70inthisperiod.
36.Othercomprehensiveincome
InRMB
Items | Year-beginningbalance | Amountofcurrentperiod | Year-endbalance | |||||
Amountincurredbeforeincometax | Less:Amounttransferredintoprofitandlossinthecurrentperiodthatrecogniedintoothercomprehensiveincomeinpriorperiod | Less:Priorperiodincludedinothercompositeincometransfertoretainedincomeinthecurrentperiod | Less:Incometaxexpenses | After-taxattributetotheparentcompany | After-taxattributetominorityshareholder | |||
1.Othercomprehensiveincomewillbereclassifiedintoincomeorlossinthefuture | 315,829,762.32 | -159,839,702.24 | -39,405,203.12 | -120,434,499.12 | 195,395,263.20 | |||
Changesinfairvalueofinvestmentsinotherequityinstruments | 315,829,762.32 | -159,839,702.24 | -39,405,203.12 | -120,434,499.12 | 195,395,263.20 | |||
2.Othercomprehensiveincomereclassifiabletoprofitorlossinsubsequentperiods | -12,933,884.67 | 9,716,087.81 | 9,716,087.81 | -3,217,796.86 | ||||
Including:Shareofothercomprehensiveincomeoftheinvesteethatcannotbetransferredtoprofitorlossaccountedforusingtheequitymethod | -12,933,884.67 | 9,716,087.81 | 9,716,087.81 | -3,217,796.86 | ||||
Totalofothercomprehensiveincome | 302,895,877.65 | -150,123,614.43 | -39,405,203.12 | -110,718,411.31 | 192,177,466.34 |
Othernotes,includingtheadjustmentoftherecognitionofinitialamountofeffectivepartofthecashflowhedginggainsandlossestransferintoarbitrageditems:
37.Surplusreserve
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
Statutorysurplusreserve | 1,167,785,965.63 | 57,589,364.93 | 1,225,375,330.56 | |
Total | 1,167,785,965.63 | 57,589,364.93 | 1,225,375,330.56 |
38.Retainedprofits
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Beforeadjustments:Retainedprofitsinlastperiodend | 3,725,679,319.35 | 3,915,790,810.76 |
Adjustthetotalundistributedprofitsatthebeginningoftheperiod | 546,190.04 | |
Afteradjustments:Retainedprofitsattheperiodbeginning | 3,726,225,509.39 | 3,915,790,810.76 |
Add:Netprofitbelongingtotheowneroftheparentcompany | 1,700,406,981.99 | 867,842,774.78 |
Less:Statutorysurplusreserve | 57,589,364.93 | 93,232,912.82 |
Commonstockdividendpayable | 608,424,582.67 | 882,320,185.17 |
Other(Note) | 82,401,168.20 | |
Retainedprofitattheendofthisterm | 4,760,618,543.78 | 3,725,679,319.35 |
Note:otheritemsinthepreviousperiodarethedividendscorrespondingtothe21%equityofmajorassetrestructuringtransactiondistributedbyGuangdongGuanghuiExpresswayCo.,Ltd.totheshareholderGuangdongExpresswayCo.,Ltd.Asregardsthedetailsofadjustedthebeginningundistributedprofits
(1)AstheretroactiveadjustmentonEnterpriseAccountingStandardsanditsrelatednewregulations,theaffectedbeginningundistributedprofitsareRMB0.00.
(2)Asthechangeoftheaccountingpolicy,theaffectedbeginningundistributedprofitsareRMB0.00.
(3)Asthecorrectionofsignificantaccountingerror,theaffectedbeginningundistributedprofitsareRMB0.00.
(4)Asthechangeofconsolidationscopecausedbythesamecontrol,theaffectedbeginningundistributedprofitsareRMB0.00.
(5)OtheradjustmentofthetotalaffectedbeginningundistributedprofitsareRMB0.00.
39.Operationincomeandoperationcost
InRMB
Items | Amountofthisperiod | Amountoflastperiod | ||
Income | Cost | Income | Cost | |
Mainoperation | 5,214,504,182.23 | 1,899,514,164.39 | 3,722,365,693.29 | 1,633,666,936.51 |
Otheroperation | 73,553,495.70 | 29,997,861.17 | 67,983,182.97 | 28,556,759.62 |
Total | 5,288,057,677.93 | 1,929,512,025.56 | 3,790,348,876.26 | 1,662,223,696.13 |
Whetherthenetprofitbeforeandafterdeductingnon-recurringgainsandlossesisnegativeafteraudit
□Yes√No
40.Businesstaxandsubjoin
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Urbanconstructiontax | 10,148,595.37 | 7,512,714.60 |
Educationsurcharge | 4,837,411.83 | 3,578,509.64 |
Propertytax | 4,108,460.47 | 5,212,158.72 |
Landusetax | 2,803,701.59 | 1,830,767.01 |
Vehicleusetax | 75,614.77 | 77,663.79 |
Stamptax | 589,040.04 | 2,310,400.84 |
Businesstax | 370,495.32 | 370,495.32 |
LocalityEducationsurcharge | 3,218,282.06 | 2,379,608.64 |
Other | 129,610.93 | |
Total | 26,151,601.45 | 23,401,929.49 |
41.Administrativeexpenses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Wage | 160,631,132.11 | 141,324,125.20 |
Depreciation | 12,006,378.25 | 9,870,249.16 |
Intangibleassetsamortization | 2,145,714.88 | 2,368,807.27 |
Lowconsumablesamortization | 856,378.64 | 1,316,594.00 |
Rentalfee | 12,641,157.99 | 12,467,786.77 |
Officeexpenses | 7,832,333.51 | 7,437,025.62 |
Travelexpenses | 802,598.61 | 573,930.76 |
Consultationexpenses | 1,102,939.62 | 2,595,902.63 |
Thefeeforhiringagency | 5,345,624.33 | 7,179,452.28 |
Listingfee | 854,072.73 | 864,123.92 |
Informationcostandmaintenancefee | 3,821,536.06 | 2,830,419.98 |
Other | 15,565,575.73 | 15,116,701.99 |
Total | 223,605,442.46 | 203,945,119.58 |
42.R&Dexpenses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Wage | 1,218,145.17 | 315,808.12 |
Materialcost | 117,433.62 | 88,495.58 |
Depreciation | 30,469.69 | |
Lowconsumablesamortization | 2,112.93 | |
Officeexpenses | 12,252.27 | |
Repairscost | 11,988.44 | |
Vehiclefee | 15,512.82 | |
Developmentcost | 11,535,779.93 | |
Other | 327,243.86 | |
Total | 13,270,938.73 | 404,303.70 |
43.Financialexpenses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Interestexpenses | 282,653,629.93 | 264,407,174.38 |
Depositinterestincome(-) | -64,220,887.86 | -50,618,519.70 |
ExchangeIncomeandloss(Gain-) | 371,334.74 | -1,815,160.91 |
Bankcommissioncharge | 628,831.70 | 881,757.74 |
Other | 2,281,404.25 | 3,327,123.37 |
Total | 221,714,312.76 | 216,182,374.88 |
44.Othergains
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
GovernmentSubsidy-CanceltheSpecialSubsidyforProvincialTollStationProjectofExpressway | 13,567,476.53 | 11,306,230.36 |
Governmentsubsidy-Stablejobsubsidies | 1,198,029.54 | 516,603.84 |
Governmentsubsidy-Enterprisessubsidies | 339,000.00 | |
Governmentsubsidy--Enterpriseswithindustrialtrainingsubsidies | 1,243,500.00 | |
Maternityallowance | 579,838.26 | 440,077.14 |
Veterans'VATreductionandexemption | 284,718.89 | 326,184.25 |
Withholdingandremittingenterpriseprepaidincometaxfees | 343,853.85 | 195,477.50 |
Veterans'VATreductionandexemption | 43,938.09 | 34,836.75 |
Total | 17,600,355.16 | 12,819,409.84 |
45.Investmentincome
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Long-termequityinvestmentincomebyequitymethod | 227,004,893.87 | 114,517,784.14 |
Dividendsearnedduringtheholdingperiodoninvestmentsinotherequityinstrument | 50,056,360.49 | 50,785,213.04 |
Interestincomeonentrustedloans | 6,063,838.37 | |
Total | 277,061,254.36 | 171,366,835.55 |
46.Creditimpairmentlosses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Impairmentlossesonaccountsreceivable | -2,028,919.47 | -2,360,980.71 |
Impairmentlossesonotherreceivable | 93,582.00 | -96,827.80 |
Total | -1,935,337.47 | -2,457,808.51 |
47.Assetimpairmentloss
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Lossonimpairmentoffixedassets | -2,889,394.16 | -1,231,918.94 |
Total | -2,889,394.16 | -1,231,918.94 |
48.Assetsdisposalincome
InRMB
Source | Amountofthisperiod | Amountoflastperiod |
Non-currentassetsdisposalgains | 3,017,370.44 | |
Including:IncomefromdisposalofFixedassets | 3,017,370.44 | |
IncomefromdisposalofIntangibleassets | ||
Total | 3,017,370.44 |
49.Non-Operationincome
InRMB
Items | Amountofthisperiod | Amountoflastperiod | Recordedintheamountofthenon-recurringgainsandlosses |
Non-monetaryassetexchangegain | |||
Gainsfromdamageandscrappingofnoncurrentassets | 371,681.42 | 371,681.42 | |
Receiveassetsfreeofcharge | 6,119,104.00 | 6,119,104.00 | |
Insuranceclaimincome | 5,020,697.37 | 3,538,886.07 | 5,020,697.37 |
Roadpropertyclaimincome | 3,436,760.97 | 2,858,053.10 | 3,436,760.97 |
Relocationcompensationincome | 1,714,382.93 | 3,353,085.30 | 1,714,382.93 |
Compensationforconstructionlandandgroundattachments | 186,642.86 | 1,210,712.86 | 186,642.86 |
Other | 1,126,225.63 | 789,104.03 | 1,126,225.63 |
Total | 17,975,495.18 | 11,749,841.36 | 17,975,495.18 |
50.Non-Operationexpense
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | Theamountofnon-operatinggains&losses |
Roadrehabilitationexpenditure | 7,821,358.32 | 5,167,239.28 | 7,821,358.32 |
Loss&abandonmentofnon-currentassets | 753,220.25 | 13,637,658.30 | 753,220.25 |
Expenditureforpublicwelfaredonations | 12,000,000.00 | 12,000,000.00 | |
Fine | 153.62 | 711,701.58 | 153.62 |
Relocationcompensationincome | 405,100.00 | ||
Other | 1,908,653.45 | 721,233.61 | 1,908,653.45 |
Total | 22,483,385.64 | 20,642,932.77 | 22,483,385.64 |
Othernote:
51.Incometaxexpense
(1)Listsofincometaxexpense
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Currentincometaxexpense | 661,629,051.42 | 453,788,495.42 |
Deferredincometaxexpense | 73,735,963.14 | 37,621,377.52 |
Total | 735,365,014.56 | 491,409,872.94 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpense
InRMB
Items | Amountofcurrentperiod |
Total | 3,162,149,714.84 |
Currentincometaxexpenseaccountedbytaxandrelevantregulations | 790,537,428.72 |
Influenceofincometaxbeforeadjustment | 3,731,767.49 |
Influenceofnontaxableincome | -69,102,108.03 |
Impactofnon-deductiblecosts,expensesandlosses | 12,850,155.96 |
Effectofdeductiblelossesfromusingpreviouslyunrecognized | -199,405.13 |
deferredincometaxassets | |
Thecurrentperioddoesnotaffectthedeferredtaxassetsrecognizeddeductibletemporarydifferencesordeductibleloss | -2,452,824.44 |
Incometaxexpense | 735,365,014.56 |
Othernote
52.ItemsofCashflowstatement
(1)Othercashreceivedfrombusinessoperation
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Interestincome | 64,220,887.86 | 50,618,519.70 |
Unitcurrentaccount | 62,196,377.10 | 75,997,867.92 |
Nettollincomereceivedbynetworkedtollclearing | 2,387,993.96 | |
CancellationofExpresswayProvincialTollStationProject | 55,851,800.00 | |
Total | 126,417,264.96 | 184,856,181.58 |
Note:
(2)Othercashpaidrelatedtooperatingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Managementexpense | 37,053,815.32 | 47,721,287.38 |
Unitcurrentaccount | 45,656,506.01 | 37,898,902.95 |
Donation | 12,000,000.00 | |
Total | 94,710,321.33 | 85,620,190.33 |
(3).CashreceivablerelatedtootherFinancingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Governmentinfrastructureinvestmentsubsidies | 140,145,195.50 | 89,083,500.00 |
Total | 140,145,195.50 | 89,083,500.00 |
(4)CashpaidrelatedtootherFinancingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Issuancefeeofmedium-termnotes | 776,869.75 | 1,122,177.00 |
Purchaseof21%equityconsiderationofGuanghui | 1,221,839,292.00 | 1,271,710,284.00 |
Cashpaidfortheleaseliabilities | 8,134,723.18 | |
Total | 1,230,750,884.93 | 1,272,832,461.00 |
53.SupplementInformationforcashflowstatement
(1)SupplementInformationforcashflowstatement
InRMB
SupplementInformation | Amountofcurrentperiod | Amountofpreviousperiod |
I.Adjustingnetprofittocashflowfromoperatingactivities | -- | -- |
Netprofit | 2,426,784,700.28 | 1,364,385,006.07 |
Add:Creditlosspreparation | 1,935,337.47 | 2,457,808.51 |
Impairmentlossprovisionofassets | 2,889,394.16 | 1,231,918.94 |
Depreciationoffixedassets,oilandgasassetsandconsumablebiologicalassets | 1,229,561,027.39 | 1,009,578,943.06 |
DepreciationofUserightassets | 9,914,956.52 | |
Amortizationofintangibleassets | 36,587,254.42 | 26,319,338.62 |
AmortizationofLong-termdeferredexpenses | 350,625.00 | 457,642.44 |
Lossondisposaloffixedassets,intangibleassetsandotherlong-termdeferredassets | -3,017,370.44 | |
Fixedassetsscraploss | 381,538.83 | 13,637,658.30 |
Lossonfairvaluechanges | ||
Financialcost | 283,024,964.67 | 265,092,013.47 |
Lossoninvestment | -277,061,254.36 | -171,366,835.55 |
Decreaseofdeferredincometaxassets | 105,511,533.12 | 54,738,687.74 |
Increasedofdeferredincometaxliabilities | -71,180,773.10 | -41,819,079.34 |
Decreaseofinventories | -586,318.60 | 57,922.16 |
Deceaseofoperatingreceivables | 8,323,698.17 | 136,745,935.47 |
SupplementInformation | Amountofcurrentperiod | Amountofpreviousperiod |
IncreasedofoperatingPayable | -83,674,592.37 | -25,329,718.84 |
Other | ||
Netcashflowsarisingfromoperatingactivities | 3,669,744,721.16 | 2,636,187,241.05 |
II.Significantinvestmentandfinancingactivitiesthatwithoutcashflows: | -- | -- |
Conversionofdebtintocapital | ||
Convertiblecorporatebondsmaturingwithinoneyear | ||
Financingoffixedassetsleased | ||
3.Movementofcashandcashequivalents: | -- | -- |
Endingbalanceofcash | 2,955,183,190.55 | 2,846,176,803.89 |
Less:Beginningbalanceofcashequivalents | 2,846,176,803.89 | 3,052,977,164.15 |
Add:Endbalanceofcashequivalents | ||
Less:Beginningbalanceofcashequivalents | ||
Netincreaseofcashandcashequivalent | 109,006,386.66 | -206,800,360.26 |
(2)Compositionofcashandcashequivalents
InRMB
Items | Balanceinyear-end | Balanceinyear-Beginning |
Cash | 2,955,183,190.55 | 2,846,176,803.89 |
Ofwhich:Cashinstock | 38,214.02 | 54,482.68 |
Banksavingscouldbeusedatanytime | 2,954,629,744.81 | 2,845,600,152.23 |
Othermonetarycapitalcouldbeusedatanytime | 515,231.72 | 522,168.98 |
Balanceofcashandcashequivalentsattheperiodend | 2,955,183,190.55 | 2,846,176,803.89 |
54.Theassetswiththeownershiporuserightrestricted
InRMB
Items | Bookvalueattheendoftheperiod | Restrictedreason |
Monetaryfund | 1,221,200.00 | Landreclamationfundsinthefundescrowaccount |
Total | 1,221,200.00 | -- |
Othernote:
VIII.Equityinotherentities
1.Equityinsubsidiary
(1)Thestructureoftheenterprisegroup
NameofSubsidiary | MainPlacesofOperation | RegistrationPlace | NatureofBusiness | ShareholdingRatio(%) | ObtainingMethod | |
direct | indirect | |||||
GuangfoExpresswayCo.,Ltd. | Guangzhou | Guangzhou | ExpresswayManagement | 75.00% | Underthesamecontrolbusinesscombination | |
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | Guangzhou | Guangzhou | Technologyinvestmentconsulting | 100.00% | Investment | |
GuangdongGuanghuiExpresswayCo.,Ltd. | Guangzhou | Guangzhou | ExpresswayManagement | 51.00% | Underthesamecontrolbusinesscombination | |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | Zhongshan | Guangzhou | ExpresswayManagement | 75.00% | Underthesamecontrolbusinesscombination | |
YuegaoCapitalInvestment(Guangzhou)Co.,Ltd. | Guangzhou | Guangzhou | Investmentmanagement | 100.00% | Investment |
Notes:holdingproportioninsubsidiarydifferentfromvotingproportion:NoneBasisofholdinghalforlessvotingrightsbutstillbeencontrolledinvesteeandholdingmorethanhalfofthevotingrightsnotbeencontrolledinvestee:NoneSignificantstructureentitiesandcontrollingbasisinthescopeofcombination:NoneBasisofdeterminewhethertheCompanyistheagentortheprincipal:None
Othernote:YuegaoCapitalInvestment(Hengqin)Co.,Ltd.wasrenamedasYuegaoCapital
Investment(Guangzhou)Co.,Ltd.inJune16,2021.
(2)ImportantNon-wholly-ownedSubsidiary
InRMB
NameofSubsidiary | ShareholdingRatioofMinorityShareholders(%) | ProfitorLossOwnedbytheMinorityShareholdersintheCurrentPeriod | DividendsDistributedtotheMinorityShareholdersintheCurrentPeriod | EquityBalanceoftheMinorityShareholdersintheEndofthePeriod |
GuangfoExpresswayCo.,Ltd. | 25.00% | 54,196,234.64 | 37,982,900.91 | 131,314,707.02 |
GuangdongGuanghuiExpresswayCo.,Ltd. | 49.00% | 544,666,628.57 | 643,014,520.46 | 1,916,561,080.37 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 25.00% | 127,514,855.08 | 74,680,354.93 | 290,675,385.57 |
HoldingproportionofminorityshareholderinsubsidiarydifferentfromvotingproportionNone
(3)Themainfinancialinformationofsignificantnotwhollyownedsubsidiary
InRMB
Name | Year-endbalance | |||||
Currentassets | Non-currentassets | Totalassets | CurrentLiabilities | Non-currentliabilities | Totalliabilities | |
GuangfoExpresswayCo.,Ltd. | 539,508,987.55 | 17,935,998.96 | 557,444,986.51 | 32,186,158.45 | 32,186,158.45 | |
GuangdongGuanghuiExpresswayCo.,Ltd. | 1,106,203,367.94 | 3,200,915,171.31 | 4,307,118,539.25 | 199,770,257.66 | 195,999,137.99 | 395,769,395.65 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 78,321,084.79 | 2,167,316,422.40 | 2,245,637,507.19 | 455,558,150.91 | 627,377,814.00 | 1,082,935,964.91 |
Name
Name | Year-beginningbalance | |||||
Currentassets | Non-currentassets | Totalassets | CurrentLiabilities | Non-currentliabilities | Totalliabilities | |
GuangfoExpresswayCo.,Ltd. | 475,293,044.67 | 55,900,968.26 | 531,194,012.93 | 67,267,992.50 | 3,520,527.29 | 70,788,519.79 |
GuangdongGuanghuiExpresswayCo.,Ltd. | 1,066,412,539.00 | 3,451,858,995.85 | 4,518,271,534.85 | 305,774,405.46 | 240,583,197.83 | 546,357,603.29 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 118,177,442.22 | 2,272,633,604.38 | 2,390,811,046.60 | 470,629,108.30 | 968,818,396.62 | 1,439,447,504.92 |
InRMB
Name | Amountofcurrentperiod | Amountofpreviousperiod | ||||||
Businessincome | Netprofit | TotalComprehensiveincome | Cashflowsfromoperatingactivities | Businessincome | Netprofit | TotalComprehensiveincome | Cashflowsfromoperatingactivities |
GuangfoExpresswayCo.,Ltd. | 452,189,259.01 | 216,784,938.57 | 216,784,938.57 | 173,090,933.86 | 333,647,719.92 | 155,032,248.63 | 155,032,248.63 | 285,644,355.99 |
GuangdongGuanghuiExpresswayCo.,Ltd. | 2,153,255,526.58 | 1,111,564,548.10 | 1,111,564,548.10 | 1,481,786,551.53 | 1,616,980,738.55 | 780,305,035.07 | 780,305,035.07 | 1,173,180,438.28 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 1,173,205,770.48 | 510,059,420.32 | 510,059,420.32 | 779,998,964.52 | 812,354,042.82 | 301,738,807.80 | 301,738,807.80 | 740,551,536.06 |
(4)SignificantrestrictionsofusingenterprisegroupassetsandpayoffenterprisegroupdebtNone
(5)ProvidefinancialsupportorothersupportforstructureentitiesincorporateintothescopeofconsolidatedfinancialstatementsNone
OtherNote:
2.ThetransactionoftheCompanywithitsowner’sequitysharechangedbutstillcontrollingthesubsidiary
(1)SignificantjointventurearrangementorassociatedenterpriseNone
(2)Affectofthetransactionontheminorityequityandowner'sequityattributabletotheparentcompanyNone
3.Equityinjointventurearrangementorassociatedenterprise
(1)Significantjointventurearrangementorassociatedenterprise
Name | Mainoperatingplace | Registrationplace | Businessnature | Proportion | Accountingtreatmentoftheinvestmentofjointventureorassociatedenterprise | |
Directly | Indirectly | |||||
ZhaoqingYuezhaoHighwayCo.,Ltd. | Zhaoqing,Guangdong | Zhaoqing,Guangdong | ExpresswayManagement | 25.00% | Equitymethod | |
ShenzhenHuiyanExpresswayCo.,Ltd. | Shenzhen | Shenzhen | ExpresswayManagement | 33.33% | Equitymethod | |
GuangdongJiangzhongExpresswayCo.,Ltd. | Zhongshan, | Zhongshan, | ExpresswayManagement | 15.00% | Equitymethod | |
GanzhoukangdaExpresswayCo.,Ltd. | Gangzhou | Ganzhou | ExpresswayManagement | 30.00% | Equitymethod | |
GanzhouGankangExpresswayCo.,Ltd. | Gangzhou | Ganzhou | ExpresswayManagement | 30.00% | Equitymethod | |
GuangdongYuepuSmallRefinancingCo.,Ltd | Guangzhou | Guangzhou | Handallkindsofsmallloans | 15.48% | Equitymethod | |
GuangyuanSecuritiesCo.,Ltd. | Hefei | Hefei | Securitybusiness | 2.37% | Equitymethod | |
HunanLianzhiTechnologyCo.,Ltd. | Changsha | Changsha | Researchandexperimentaldevelopment | 10.10% | Equitymethod | |
SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd. | Guangzhou | Guangzhou | Newenergyservices | 5.00% | Equitymethod |
Notestoholdingproportionofjointventureorassociatedenterprisedifferentfromvotingproportion:
NoneBasisofholdinglessthan20%ofthevotingrightsbuthasasignificantimpactorholding20%ormorevotingrightsbutdoesnothaveasignificantimpact:
Guangdong,JiangzhongExpresswayCo.,Ltd.,GuangyuanSecuritiesCo.,Ltd.,YuepuSmallRefinancingCo.,Ltd.,HunanLianzhiTechnologyCo.,Ltd.andSPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.holds20%ofthevotingrights,buthasthepowertoparticipateinmakingdecisionsontheirfinancialandoperatingdecisions,andthereforedeemedtobeabletoexertsignificantinfluenceovertheinvestee.
(2)MainfinancialinformationofsignificantjointventureNone
(3)Mainfinancialinformationofsignificantassociatedenterprise
InRMB
Year-endbalance/Amountofcurrentperiod | Year-beginningbalance/Amountofpreviousperiod | |
GuoyuanSecuritiesCo.,Ltd. | GuoyuanSecuritiesCo.,Ltd. | |
Totalofassets | 114,683,858,604.22 | 90,890,416,303.36 |
Shareholders’equityattributabletoshareholdersoftheparent | 32,259,179,385.22 | 30,841,760,973.08 |
Proratashareofthenetassetscalculated | 764,993,833.19 | 731,381,188.20 |
--Goodwill | 207,095,632.54 | 207,095,632.54 |
Thebookvalueofequityinvestmentsinjointventures | 972,089,465.73 | 938,476,820.74 |
Fairvalueofequityinvestmentofassociatedenterpriseswithopenquotation | 796,815,881.40 | 927,203,934.72 |
Buinsessincme | 6,076,303,560.25 | 2,115,128,481.79 |
Netprofit | 1,871,872,525.11 | 617,902,373.05 |
Othercomprehensiveincome | 410,531,198.59 | 99,219,704.73 |
Totalcomprehensiveincome | 2,282,403,723.70 | 717,122,077.78 |
Dividendsreceivedfromassociatesduringtheyear | 20,696,516.40 | 11,940,297.90 |
(4)Summaryfinancialinformationofinsignificantjointventureorassociatedenterprise
InRMB
Year-endbalance/Amountofcurrentperiod | Year-beginningbalance/Amountofpreviousperiod | |
Jointventure: | -- | -- |
Totalamountoftheproratacalculationof | -- | -- |
thefollowingitems | ||
Associatedenterprise: | -- | -- |
Totalbookvalueoftheinvestment | 1,655,041,215.52 | 1,444,450,534.90 |
Totalamountoftheproratacalculationofthefollowing--Netprofitms | -- | -- |
-Nitprofit | 182,411,820.30 | 82,311,895.95 |
--Totalcomprehensiveincome | 182,411,820.30 | 82,311,895.95 |
(5)NotetothesignificantrestrictionsoftheabilityofjointventureorassociatedenterprisetransferfundstotheCompanyNone
(6)TheexcesslossofjointventureorassociatedenterpriseNone
(7)TheunrecognizedcommitmentrelatedtojointventureinvestmentNone
(8)ContingentliabilitiesrelatedtojointventureorassociatedenterpriseinvestmentNone
4.SignificantcommonoperationNone
5.EquityofstructureentitynotincludinginthescopeofconsolidatedfinancialstatementsNoneIX.RisksRelatedtoFinancialInstrumentsThecompanyhasthemainfinancialinstruments,suchasbankdeposits,receivablesandpayables,investments,loansandsoon.PleaserefertotherelevantdisclosureinNotesforthedetails.Therisksassociatedwiththesefinancialinstrumentsmainlyincludecreditrisk,marketriskandliquidityrisk.Thecompany’smanagementshallmanageandmonitortheserisksandensureaboveriskstobecontrolledwithincertainscope.
ThetargetsandpoliciesofriskmanagementThetargetofriskmanagementistoobtaintheproperbalancebetweentheriskandbenefit,toreducethenegativeimpactthatiscausedbytheriskoftheCompanytothelowestlevel,andtomaximizethebenefitsofshareholdersandotherequityinvestors.Basedonthetargetsofriskmanagement,thebasicstrategyoftheCompany’sriskmanagementistoidentifyandanalyzetheriskswhicharefacedbytheCompany,establishsuitablerisktolerancebaselineandproceedtheriskmanagement,andsuperviseavarietyofriskstimelyandreliably,andcontroltheriskswithinalimitedrange.
1.Marketrisk
(1)Foreignexchangerisk
Foreignexchangeriskreferstotheriskoflossduetoexchangeratefluctuationsgenerally.OurforeignexchangeriskismainlyrelatedtoHongKongDollar.BesidesannualdistributionofB-shareshareholderdividends,othermajorbusinessactivitiesofourCompanyaresettledinRMB.Duringthereportingperiod,duetotheshortcreditperiodoftheCompany'sincomeandexpenditurerelatedtoforeigncurrency,itwasnotaffectedbyforeignexchangerisk.
(2)Interestraterisk
TheCompany'sriskofcashflowchangesinfinancialinstrumentscausedbyinterestratechangesismainlyrelatedtofloatingratebankborrowings.TheCompany'spolicyistomaintainthefloatinginterestrateoftheseborrowings,andatthesametimetoreasonablyreducetheriskofinterestratefluctuationbyshorteningthetermofasingleloanandspecificallyagreeingonprepaymentterms.
(3)Otherpricerisk
TheinvestmentsheldbytheCompanyareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeandaremeasuredatfairvalueonthebalancesheetdate.Therefore,theCompanybearstheriskofchangesinthesecuritiesmarket.
2.Creditrisk
AsofJune30,2021,thelargestcreditriskexposurethatmaycausefinanciallossesoftheCompanymainlycomesfromthelossoffinancialassetsoftheCompanycausedbythefailureoftheotherpartytoperformitsobligations.
Inordertoreducecreditrisk,theCompanyonlydealswithrecognizedandreputablecustomers.Inaddition,theCompanyreviewstherecoveryofeachsinglereceivablesoneachbalancesheetdatetoensurethatadequatebaddebtprovisionsaremadeforunrecoverableamounts.Consequently,theCompany'smanagementbelievesthattheCompany'screditriskhasbeengreatlyreduced.
TheGroup'sworkingcapitalisdepositedinbankswithhighercreditrating,sothecreditriskofworkingcapitalisrelativelylow.
Financialassetsoverdueorimpaired;
(1)Aginganalysisoffinancialassetswithoverdueimpairment:Notexisted
(2)Analysisoffinancialassetsthathavesufferedsingleimpairment:Referto"4,OtherReceivables"inVIIand"10,InvestmentinOtherEquityInstruments"inVIIofthissectionfordetails.
3.LiquidityriskWhenmanagingliquidityrisks,theCompanymaintainssufficientcashandcashequivalentsasdeemedbythemanagementandmonitorthemtomeettheCompany'soperationalneedsandreducetheimpactofcashflowfluctuations.ThemanagementoftheCompanymonitorstheuseofbankloansandensurescompliancewiththeloanagreement.X.Thedisclosureofthefairvalue
1.Closingfairvalueofassetsandliabilitiescalculatedbyfairvalue
InRMB
Items | Closingfairvalue | |||
Firvaluemeasurementitemsatlevel1 | Firvaluemeasurementitemsatlevel2 | Firvaluemeasurementitemsatlevel3 | Total | |
I.Consistentfairvaluemeasurement | -- | -- | -- | -- |
(3)Otherequityinstrumentinvestment | 781,046,414.08 | 746,129,411.97 | 1,527,175,826.05 | |
II.Non–persistentmeasure | -- | -- | -- | -- |
2.Marketpricerecognitionbasisforconsistentandinconsistentfairvaluemeasurementitemsatlevel1.Asattheendoftheperiod,thecompanyholdsshares235,254,944sharesofChinaEverbrightBankAccordingtotheclosingpriceofDecember31,2021of3.32yuan,thefinalcalculationoffairvaluewas781,046,414.08yuan.
3.Fairvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalue,Thevaluationtechniquesadoptedandthequalitativeandquantitativeinformationofimportantparametersforcontinuousandnon-continuouslevel2fairvaluemeasurementitems
Items | FairvalueasofDecember31,2021 | Valuationtechnology | Unobservableinputvalue |
Investmentinequityinstruments | |||
Unlistedequityinvestment | 746,129,411.97 | Enjoythebooknetassetsshareoftheinvestedunitaccordingtotheshareholdingratio |
ThefinancialinstrumentlistedinthetierIIIistheequityinvestmentofGuangdongGuangleExpresswayCo.,
Ltd.heldbytheCompany.Attheendoftheperiod,thefairvalueofthefinancialinstrumentisdeterminedby
calculatingthebooknetassetsoftheinvesteeaccordingtotheshareholdingratio.
4.Fairvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalue
TheCompany'sfinancialassetsandliabilitiesmeasuredinamortizedcostmainlyinclude:accountsreceivable,
otherreceivables,contractassets,short-termloans,accountspayable,otherpayables,non-currentliabilitiesdue
withinoneyear,long-termloans,bondspayableandlong-termpayables.
Thereisnosignificantdifferencebetweenthebookvalueoffinancialassetsandliabilitiesnotmeasuredat
fairvalueandthefairvalue.
XI.Relatedpartiesandrelated-partytransactions
1.Parentcompanyinformationoftheenterprise
Name | Registeredaddress | Nature | Redistrictedcapital | TheparentcompanyoftheCompany'sshareholdingratio | TheparentcompanyoftheCompany’svoteratio |
GuangdongcommunicationGroupCo.,Ltd | Guangzhou | Equitymanagement,trafficinfrastructureconstructionandrailwayprojectoperation | 26.8billionyuan | 24.56% | 50.12% |
Notes:
GuangdongCommunicationGroupCo.,Ltd.isthelargestshareholderoftheCompany.legalrepresentative:DengXiaohua.Dateofestablishment:June23,2000.AsofDecember31,2021,Registeredcapital:26.8billionyuan.Itisasolelystate-ownedlimitedcompany.Businessscope:equitymanagement,organizationofassetreorganizationandoptimizedallocation,raisingfundsbymeansincludingmortgage,transferofpropertyrightsandjointstocksystemtransformation,projectinvestment,operationandmanagement,trafficinfrastructureconstruction,highwayandrailwayprojectoperationandrelevantindustries,technologicaldevelopment,application,consultationandservices,highwayandrailwaypassengerandcargotransport,shipindustry,relevantoverseasbusinesses;Thevalue-addedcommunicationbusiness.ThefinialcontroloftheCompanywasStateownedassetssupervisionandAdministrationCommissionofGuangdongProvincialPeople'sGovernment.
2.SubsidiariesoftheCompanySubsidiariesofthisenterprise,seeVIII(3)therightsofotherentity
3.InformationonthejointventuresandassociatedenterprisesoftheCompany
DetailsrefertotheVIII-3,InterestsinjointventuresorassociatesInformationonotherjointventureandassociatedenterpriseofoccurringrelatedpartytransactionswiththeCompanyinreportingperiod,orformbalanceduetorelatedpartytransactionsinpreviousperiod:
Name | RelationwiththeCompany |
ShenzhenHuiyanExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
ZhaoqingYuezhaoHighwayCo.,Ltd. | AssociatedenterprisesoftheCompany |
GanzhouKangdaExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
GanzhouGankangExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
GuangdongJiangzhongExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
GuangdongYuepuSmallRefinancingCo.,Ltd | AssociatedenterprisesoftheCompany |
HunanLiankeTechnologyCo.,Ltd. | AssociatedenterprisesoftheCompany |
4.OtherRelatedparties
Name | RelationwiththeCompany |
GuangdongBodaExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongChaohuiExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongPropertyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGaoenExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongExpresswayMediaCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGuangfozhaoExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGuangleExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHumenBridgeCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHualuTrafficTechnologyCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongJiaotongTestingCo.,Ltd | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTrafficIndustryInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongKaiyangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongPropertyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongUnionElectronServiceInformationtechnologyCo.,ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongUnionElectronServiceCo.,ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLulutongCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLuoyangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongMaozhanExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongShanfenExpresswayCo.,ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongProvincialFreewayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHighwayConstructionCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongCommunicationGroupFinanceCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongRead&BridgeConstructionDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTaishanCoastalExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Fullyownedsubsidiaryoftheparentcompany |
Name | RelationwiththeCompany |
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYangmaoExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYueganExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYueyunTrafficCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYueyunTrafficRescueCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongZhaoyangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangshenzhuExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangzhouXinyueTrafficTechnologyCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangzhouXinyueAsphaltCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangzhouYueyunTrafficCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
YunfoGuangyunExpresswayCo.,Ltd | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTianluNewEnergyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTrafficDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Sharesofparentcompany |
GuangzhongjiangExpresswayProjectManagementDept | Managedbytheparentcompany |
Hongkong-Zhuhai-MacaoConnectionlinemanagementcenter | Managedbytheparentcompany |
GuangzhouAitesiCommunicationequipmentCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
JiangmenJiangheExpresswayCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
GuangdongShenshanExpresswayCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
FoshanGuangshanExpresswayCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
GuangdongFeidaTrafficEngineeringCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
PolyChangdaEngineeringCo.,Ltd. | Sharesofparentcompany |
GuangdongChangdaRoadConservationCo.,Ltd. | Sharesofparentcompany |
GuangdongRoadNetworkDigitalMediaInformationTechnologyCo.Ltd | Jointventureofparentcompany |
GuangdongXiangfeiHighwayEngineeringSupervisionCo.,Ltd | Subsidiaryoftheparentcompany |
GuangdongJiangzhaoExpresswayManagementCenter | Managedbytheparentcompany |
GuangdongNanyueTrafficQingyunExpresswayManagementCenter | Managedbytheparentcompany |
5.Listofrelated-partytransactions
(1)InformationonacquisitionofgoodsandreceptionoflaborserviceAcquisitionofgoodsandreceptionoflaborservice
InRMB
Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod | Overthetradinglimitornot? | Amountoflastperiod |
1.Businesscost | |||||
BolyChangdaEngineeringCo.,Ltd. | Projectfund,service | 25,299,515.00 | 43,663,945.00 | ||
GuangdongUnionelectronicservicesco.,Ltd. | Service | 25,131,901.47 | 22,140,969.83 | ||
GuangdongXinyueAsphaltCo.,Ltd. | Projectfund | 8,889,414.00 | |||
GuangdongFeidaTrafficEngineeringCo.,Ltd. | Maintenance | 7,773,274.29 | 7,314,621.02 | ||
GuangzhouXinyueAsphaltCo.,Ltd. | Purchase | 7,587,872.00 | 13,627,554.77 | ||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Maintenance,Projectfunds | 6,652,840.00 | 10,948,746.94 | ||
GuangdongLulutongCo.,Ltd. | Maintenance,Projectfunds | 5,775,057.23 | 36,627,747.85 | ||
GuangdongHualuTrafficTechnologyCo.,Ltd. | Project | 4,512,951.46 | 4,869,113.63 | ||
GuangdongXinyuetrafficInvestmentCo.,Ltd. | Maintenance,Projectfunds | 4,366,423.49 | 5,947,406.32 | ||
GuangdongHumenBridgeCo.,Ltd. | Service | 3,686,679.96 | 528,929.83 | ||
GuangdongYueyunTrafficRescueCo.,Ltd. | Rescueservicefee | 3,343,600.00 | |||
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Maintenance | 1,713,971.99 | 1,424,414.80 | ||
GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Projectlabourservice | 1,156,607.57 | 8,136,858.45 | ||
GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Service | 1,050,181.10 | 604,826.78 | ||
GuangzhouAitesiCommunicationEquipmentCo.,Ltd. | Project | 993,635.40 | 1,771,681.42 |
Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod | Overthetradinglimitornot? | Amountoflastperiod |
HunanLianzhiMonitoringTechnologyCo.,Ltd | Project | 850,700.00 | |||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Maintenance,Service | 687,200.00 | 282,800.00 | ||
GuangdongYueyunTrafficCo.,Ltd. | Transportation | 556,127.40 | |||
GuangdongUnionelectronicservicesco.,Ltd. | Service | 38,603.77 | |||
GuangdongExpresswayMediaCo.,Ltd. | Advertising | 128,431.80 | |||
GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | Service | 107,017.44 | |||
Subtotal | 110,066,556.13 | 158,125,065.88 | |||
2.Financialcost | |||||
GuangdongCommunicationGroupFinanceCo.,Ltd. | BorrowingInterestexpresses | 6,494,583.35 | 2,240,000.00 | ||
GuangdongCommunicationGroupFinanceCo.,Ltd. | Depositinterestincome | -39,941,667.46 | -14,429,931.26 | ||
GuangdongCommunicationGroupFinanceCo.,Ltd. | Commissioncharge | 32,273.93 | 57,483.84 | ||
GuangdongJiangzhongExpresswayCo.,Ltd. | PrincipalLoanInterestExpenditure | 27,405.00 | 1,432,890.00 | ||
Subtotal | -33,387,405.18 | -10,699,557.42 | |||
3.Administrativeexpenses | |||||
GuangdongLitongPropertyInvestmentCo.,Ltd. | ManagementFee | 2,085,605.68 | 2,787,764.02 | ||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Maintenance,Service | 1,654,473.11 | 1,048,608.53 | ||
GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Service | 57,034.88 | 57,955.00 | ||
GuangdongExpresswayMediaCo.,Ltd. | Advertising | 17,556.00 | |||
GuangdongLulutongCo.,Ltd. | Maintenancecharges | 38,400.00 | |||
Subtotal | 3,814,669.67 | 3,932,727.55 |
Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod | Overthetradinglimitornot? | Amountoflastperiod |
4.R&D | |||||
GuangdongCommunicationGroup | Scientificresearchproject | 2,962,500.00 | |||
HunanLianzhiMonitoringTechnologyCo.,Ltd | Scientificresearchproject | 850,700.00 | |||
Subtotal | 3,813,200.00 | ||||
5.Intangibleassets | |||||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Purchaseassets | 231,017.70 | |||
Subtotal | 231,017.70 | ||||
6.Fixedassets | |||||
GuangdongHualuTrafficTechnologyCo.,Ltd. | Purchaseassets | 678,764.67 | 1,263,639.96 | ||
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Purchaseassets | 675,150.00 | |||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Purchaseassets | 598,500.00 | 2,939,612.48 | ||
GuangdongFeidaTrafficEngineeringCo.,Ltd. | Purchaseassets | 400,013.00 | 255,165.00 | ||
GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Purchaseassets | 1,141,056.00 | |||
PolyChangdaEngineeringCo.,Ltd. | Purchaseassets | 803,433.00 | |||
GuangdongLulutongCo.,Ltd. | Purchaseassets | 774,003.00 | |||
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Purchaseassets | 8,327,087.05 | |||
Subtotal | 2,352,427.67 | 15,503,996.49 | |||
7.Constructioninprocess | |||||
PolyChangdaEngineeringCo.,Ltd. | Purchaseassets | 275,143,275.83 | 174,118,816.33 | ||
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Purchaseassets | 78,020,865.98 | 6,093,672.62 | ||
GuangdongCommunicationPlanning& | Purchaseassets | 15,047,972.50 | 6,549,774.00 |
Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod | Overthetradinglimitornot? | Amountoflastperiod |
DesignInstituteCo.,Ltd. | |||||
GuangdongHualuTrafficTechnologyCo.,Ltd. | Purchaseassets | 12,390,585.09 | 4,965,661.48 | ||
GuangdongFeidaTrafficEngineeringCo.,Ltd. | Purchaseassets | 10,460,593.04 | 4,456,756.00 | ||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Purchaseassets | 1,461,612.00 | |||
GuangdongLulutongCo.,Ltd. | Purchaseassets | 364,490.00 | |||
GuangdongXiangfeiHighwayEngineeringSupervisionCo.,Ltd | Purchaseassets | 208,829.00 | 188,644.00 | ||
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Purchaseassets | 185,000.00 | |||
GuangdongJiaokeTestingCo.,Ltd. | Purchaseassets | 88,880.00 | 4,924,163.50 | ||
GuangdongHighwayConstructionCo.,Ltd. | Purchaseassets | 32,720,641.48 | |||
GuangzhouXinyueAsphaltCo.,Ltd. | Purchaseassets | 6,094,415.27 | |||
Subtotal | 393,372,103.44 | 240,112,544.68 | |||
8.Non-operatingexpenses | |||||
PolyChangdaEngineeringCo.,Ltd. | Expensesforcivilengineeringrestoration | 3,207,485.00 | |||
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Sporadicrepairfees | 255,719.00 | |||
GuangdongHualuTrafficTechnologyCo.,Ltd. | Verificationfee | 5,766.55 | |||
GuangdongLulutongCo.,Ltd. | Maintenance | 222,410.00 | |||
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Equipment | 11,000.00 | |||
Subtotal | 3,468,970.55 | 233,410.00 |
Relatedtransactionsonsalegoodsandreceivingservices
InRMB
Relatedparty | Content | Amountofcurrentperiod | Amountofpreviousperiod |
1.Businessincome | |||
JingzhuExpresswayGuangzhuNorthsectionCo.,Ltd. | Commissionmanagementfee | 21,805,771.37 | 19,593,901.34 |
GuangdongProvincialFreewayCo.,Ltd. | Projectfund | 4,396,237.98 | 4,382,576.33 |
GuangdongFeidaTrafficEngineeringCo.,Ltd | CPCcardsalesrevenue | 3,954,609.41 | 2,621,638.92 |
ZhaoqingYuezhaoHighwayCo.,Ltd. | Salaryincomeandtestingfeeforexpatriatestaff | 1,261,683.80 | 1,044,069.06 |
ShenzhenHuiyanExpresswayCo.,Ltd. | Salaryincomeandtestingfeeforexpatriatestaff | 1,045,253.97 | 944,060.56 |
GuangdongRoadConstructionCo.,Ltd. | Servicefeeandtestingfee | 827,703.80 | 1,122,174.65 |
GanzhouGankangExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 730,675.94 | 594,631.40 |
GuangdongJiangzhongExpresswayCo.,Ltd. | Salaryincome,projectpayment,etc | 650,904.70 | 530,534.64 |
GanzhouKangdaExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 506,038.55 | 590,288.43 |
GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | Service,test | 463,391.75 | 333,636.67 |
GuangdongChaohuiExpresswayCo.,Ltd. | Test | 441,132.07 | 422,830.19 |
GuangdongRoad&BridgeConstructionDevelopmentCo.,Ltd. | Test | 384,962.27 | 394,211.89 |
GuangdongTrafficDevelopmentCo.,Ltd. | Waterandelectricity | 342,916.53 | |
GuangdongKaiyangExpresswayCo.,Ltd. | Test | 284,433.96 | 237,735.85 |
GuangdongGuangfoExpresswayCo.,Ltd. | Test | 264,622.64 | 142,641.51 |
GuangdongBodaExpresswayCo.,Ltd. | Test | 246,626.81 | 295,325.43 |
GuangdongYangmaoExpresswayCo.,Ltd. | Serviceandtest | 234,951.58 | 333,264.32 |
GuangdongGufangleExpresswayCo.,Ltd. | Test | 224,433.96 | 222,169.81 |
GuangdongMaozhanExpresswayCo.,Ltd. | Serviceandtest | 79,245.28 | 277,482.05 |
GuangdongZhaoyangExpresswayCo.,Ltd. | Test | 197,613.96 | 150,000.00 |
PolyChangdaEngineeringCo.,Ltd. | waterandelectricity | 155,736.83 | 200,087.71 |
GuangdongNanyueTrafficQingyunExpresswayCo.,Ltd. | CPCcard | 122,123.89 | |
GuangdongLuoyangExpresswayCo.,Ltd. | Test | 107,547.17 | 107,547.17 |
GuangdongTrafficIndustryInvestment | Test | 106,132.07 | 90,566.04 |
Relatedparty | Content | Amountofcurrentperiod | Amountofpreviousperiod |
Co.,Ltd. | |||
GuangdongXinyueTrafficInvestmentCo.,Ltd. | CPCcardsalesrevenue | 46,877.88 | 128,993.83 |
GuangdongExpresswayMediaCo.,Ltd. | waterandelectricity | 74,814.00 | 23,053.70 |
YunfuGuangyunExpresswayCo.,Ltd. | Test | 71,433.97 | 65,377.36 |
JiangmenJiangheExpresswayCo.,Ltd. | Test | 63,207.55 | 57,547.17 |
GuangdongHumenBridgeCo.,Ltd. | Test | 38,387.04 | 33,962.26 |
GuangdongYueyunTrafficRescueCo.,Ltd. | waterandelectricity | 30,917.99 | |
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Landoccupationfeeinthecommunicationmachineroom | 16,000.00 | |
GuangdongYueyunTrafficCo.,Ltd. | Test | 11,320.75 | 11,320.75 |
GuangdongRoadNeworkDigitalMediaInformationTechnologyCo.,Ltd. | Advertising | 34,218.33 | |
GuangshenzhuExpresswayCo.,Ltd. | Service | 8,407.08 | |
GuangdongGaoenExpresswayCo.,Ltd. | Test | 79,245.28 | |
GuangdongUnionelectronicservicesco.,Ltd. | ETCpublicityandpromotionfees,agencyservicefees | 1,479,844.56 | |
GuangdongTongyiExpresswayServiceAreaCo.,Ltd | waterandelectricity | 1,256,761.24 | |
Subtotal | 39,187,709.47 | 37,810,105.53 | |
2.Non-operatingincome | |||
PolyChangdaEngineeringCo.,Ltd. | Constructionpenalty | 653,302.00 | 93,754.00 |
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Constructionpenalty | 5,300.00 | |
Subtotal | 653,302.00 | 99,054.00 |
(2)InformationofrelatedleaseTheCompanywaslessor:
InRMB
Nameoflessee | Categoryofleaseassets | Theleaseincomeconfirmedinthisyear | Theleaseincomeconfirmedinlastyear |
GuangdongExpresswayMediaCo.,Ltd. | Advertisinglease | 3,988,255.23 | 4,598,128.21 |
GuangdongTongyiExpressway | ServiceAreaLease | 3,569,880.44 | 2,297,830.86 |
ServiceAreaCo.,Ltd | |||
GuangdongLitongTechnologyInvestmentCo.,Ltd. | CommunicationPiping | 1,649,376.50 | 1,030,735.24 |
PolyChangdaEngineeringCo.,Ltd. | Equipmentleasing | 255,176.06 | |
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Landlease | 37,690.80 | |
Total | 9,462,688.23 | 7,964,385.11 |
-Thecompanywaslessee:
InRMB
Lessor | Categoryofleasedassets | Theleaseincomeconfirmedinthisyear | Categoryofleasedassets |
GuangdongLitongRealEatateInvestmentCo.,Ltd | Officespace | 9,985,140.68 | 9,208,532.51 |
GuangzhouYueyunTrafficCo.,Ltd. | Carrentalfee | 873,040.00 | 187,200.00 |
ZhaoqingYuezhaoHighwayCo.,Ltd. | Advertisingcolumnlease | 195,288.00 | 253,230.00 |
ZhaoqingYuezhaoHighwayCo.,Ltd. | Carrentalfee | 109,633.92 | |
GuangdongLitongRealEatateInvestmentCo.,Ltd | Officespace | 103,843.13 | 102,969.27 |
Total | 11,266,945.73 | 9,751,931.78 |
Note
(3)Inter-banklendingofcapitalofrelatedparties
InRMB
Relatedparty | Amountborrowedandloaned | Initialdate | Duedate | Notes |
Borrowed | ||||
GuangdongJiangzhongExpresswayCoLoaned.,Ltd. | 36,000,000.00 | November14,2018 | November13,2023 | Reppaidon8January2021 |
Loaned |
(4)Rewardsforthekeymanagementpersonnel
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Rewardsforthekeymanagementpersonnel | 768.26 | 654.15 |
(5)Othersignificantrelated-partytransactions
√Applicable□Notapplicable(
)Depositbusiness
Relatedparty | Relationship | Maximumdailydepositlimit(10,000) | Depositinterestraterange | Beginningbalance(10,000) | Theamountofthisperiod | Endingbalance(10,000) | |
Totalamountforthisperiod(10,000) | Totalamountiswithdrawnforthisperiod(10,000) | ||||||
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 300,000.00 | 1.725%-3.57% | 103,110.58 | 1,041,351.20 | 992,361.43 | 152,100.35 |
(2)Loanbusiness
Relatedparty | Relationship | Loanlimit(10,000) | Loantinterestraterange | Beginningbalance(10,000) | Theamountofthisperiod | Endingbalance(10,000) | |
Totalloanamountofthecurrentperiod(10,000) | Totalrepaymentamountofthecurrentperiod(10,000) | ||||||
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 400,000.00 | 3.15%-3.75% | 20,000.00 | 20,000.00 | 20,000.00 | 20,000.00 |
③Creditextensionorotherfinancialservices
Relatedparty | Relationship | Businesstype | Totalamount(10,000) | Actualamountincurred(10,000) |
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | Creditextension | 220,000.00 | 20,000.00 |
TheCompanyrespectivelysignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandtheGuangdongBranchofIndustrialandCommercialBankofChinaonDecember25,2017;andsignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandtheGuangdongBranchofIndustrialandCommercialBankofChinaonDecember22,2017respectively,joinedthecashpoolofGuangdongCommunicationsGroupFinanceCo.,Ltd.GuangdongGuanghuiExpresswayCo.,Ltdrespectivelysignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandAgriculturalBankofChinaCo.,Ltd
GuangdongBranchonMay19,2020,joinedthecashpoolofGuangdongCommunicationsGroupFinanceCo.,Ltd.
(6)Otherrelated-partytransactions-OnJune15,2016,Thecompany’s29thmeeting(Provisional)oftheseventhboardofdirectorswasconvened.TheProposalonEntrustmentofConstructionManagementoftheRenovationandExpansionProjectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpresswaywasdeliberatedinthemeeting,agreedthatGuangdongProvincialFokaiExpresswayCo.,LtdentrustsGuangdongProvincialHighwayConstructionCo.,LtdwiththeconstructionmanagementoftherenovationandexpansionprojectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpressway,andhandlingtherelatedmattersoftheentrustmentoftheconstructionmanagement.
OnMarch25,2021,theSixteenthMeetingoftheNinthBoardofDirectorsoftheCompanyheldandreviewedtheProposalontheCompany'sEstimatedDailyRelatedPartyTransactionsin2021.ItisestimatedthatthedailyrelatedpartytransactionsincludetheAgreementontheEntrustedManagementofthePreliminaryWorkoftheReconstructionandExpansionProjectofNansha-ZhuhaiSectionofGuangzhou-MacaoExpresswaysignedbyBeijing-ZhuhaiExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.andGuangdongHighwayConstructionCo.,Ltd.,inwhichthelatterisresponsibleforthemainmanagementresponsibilitiesandallthepreliminaryworkbeforetheapprovalofthereconstructionandexpansionproject.
6.Receivablesandpayablesofrelatedparties
(1)Receivables
InRMB
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
Contractassets | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 113,642.50 | 119,242.50 | ||
Contractassets | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 48,230.00 | 48,230.00 | ||
Contractassets | GuangdongJiangzhongExpresswayCo.,Ltd. | 8,412.00 | 8,412.00 | ||
Contractassets | GuangdongNanyueTrafficQingyunExpresswayManagementCenter | 6,900.00 | |||
Contractassets | GuangdongRoadConstructionDevelopmentCo.,ltd. | 25,262.45 | |||
Contractassets | ZhaoqingYuezhaoHighwayCo.,Ltd. | 22,667.85 | |||
Contractassets | GuangzhenzhuExpresswayCo.,Ltd. | 9,096.00 | |||
Contractassets | GuangdongRoadConstructionDevelopmentCo.,ltd. | 7,200.00 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
Contractassets | GuangdongBodaExpresswayCo.,Ltd. | 4,530.99 | |||
Contractassets | GuangdongBodaExpresswayCo.,Ltd. | 2,700.00 | |||
Total | 177,184.50 | 247,341.79 | |||
Accountreceivable | GuangdongUnionelectronServiceCo.,Ltd. | 78,368,502.10 | 100,047,025.70 | ||
Accountreceivable | JingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 7,783,650.00 | 5,980,163.99 | ||
Accountreceivable | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 5,531,000.00 | 3,274,356.00 | 45,916.00 | |
Accountreceivable | GuangdongHumenBridgeCo.,Ltd. | 2,083,918.33 | 11,044,082.54 | ||
Accountreceivable | GuangdongExpresswayMediaCo.,Ltd. | 1,854,769.00 | 1,966,548.00 | ||
Accountreceivable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 338,298.13 | |||
Accountreceivable | PolyChangdaEngineeringCo.,Ltd. | 265,054.16 | |||
Accountreceivable | GuangdongProvincialFreewayCo.,Ltd. | 203,632.00 | 21,232.00 | ||
Accountreceivable | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 94,301.60 | 300,009.20 | 148,208.50 | |
Accountreceivable | GuangdongRoadConstructionCo.,ltd. | 54,256.00 | 1,037,305.45 | 65,491.20 | |
Accountreceivable | ShenzhenHuiyanExpresswayCo.,Ltd. | 51,000.00 | |||
Accountreceivable | GuangdongRoadBridgeConstructionDevelopmentCo.,Ltd. | 29,025.15 | 61,891.30 | ||
Accountreceivable | GuangzhenzhuExpresswayCo.,ltd. | 18,192.00 | 69,736.00 | ||
Accountreceivable | GuangdongBodaExpresswayCo.,Ltd. | 4,530.99 | 22,740.00 | ||
Accountreceivable | GuangdongJiangzhongExpresswayCo.,Ltd. | 19,708.00 | |||
Accountreceivable | GuangdongChaohuiExpresswayCo.,Ltd. | 7,367.20 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
Accountreceivable | GuangdongYueyunTrafficCo.,Ltd. | 15,032.00 | |||
Accountreceivable | GuangdongGuangleExpresswayCo.,Ltd. | 7,248.00 | |||
Accountreceivable | GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | 223,500.00 | |||
Total | 96,680,129.46 | 124,097,945.38 | 259,615.70 | ||
Advancedpayment | ZhaoqingYuezhaoHighwayCo.,Ltd. | 216,750.00 | 151,938.00 | ||
Advancedpayment | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 149,400.00 | |||
Total | 216,750.00 | 301,338.00 | |||
DividendReceivable | GanzhouKangdaExpresswayCo.,Ltd,. | 1,500,000.00 | |||
Total | 1,500,000.00 | ||||
OtherAccountreceivable | GuangdongLitongRealEstateInvestmentCo.,Ltd. | 1,653,447.36 | 1,666,147.36 | ||
OtherAccountreceivable | GuangdongExpresswayMediaCo.,Ltd. | 649,386.62 | 1,218,110.44 | ||
OtherAccountreceivable | GuangdongProvincialFreewayCo.,Ltd. | 463,491.88 | 463,491.88 | ||
OtherAccountreceivable | ZhaoqingYuezhaoHighwayCo.,Ltd. | 350,000.00 | 350,000.00 | ||
OtherAccountreceivable | GuangdongUnionelectronServiceCo.,Ltd. | 50,000.00 | 50,000.00 | ||
OtherAccountreceivable | GuangdongLitongRealEstateInvestmentCo.,Ltd. | 30,004.00 | 16,268.00 | ||
OtherAccountreceivable | GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | 20,000.00 | |||
OtherAccountreceivable | PolyChangdaEngineeringCo.,Ltd. | 10,124.14 | |||
OtherAccountreceivable | GanzhouGankangExpresswayCo.,Ltd. | 45,000,000.00 | |||
OtherAccountreceivable | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 5,340.03 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
OtherAccountreceivable | GuangshenzhuExpresswayCo.,Ltd. | 60,640.00 | |||
OtherAccountreceivable | GuangdongBodaExpresswayCo.,Ltd. | 22,740.00 | |||
Total | 3,196,329.86 | 48,882,861.85 | |||
OtherNon-CurrentAssets | GuangdongRoadConstructionCo.,Ltd. | 7,089,990.48 | 7,089,990.48 | ||
OtherNon-CurrentAssets | GuangdongTrafficDevelopmentCo.,Ltd. | 333,398.00 | |||
OtherNon-CurrentAssets | GuangdongTianluNewEnergyInvestmentCo.,Ltd. | 333,398.00 | |||
OtherNon-CurrentAssets | PolyChangdaEngineeringCo.,Ltd. | 11,599,273.00 | |||
Total | 7,423,388.48 | 19,022,661.48 |
(2)Payables
InRMB
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
Short-termloan | GuangdongCommunicationGroupFinanceCo.,ltd. | 200,192,500.00 | |
Total | 200,192,500.00 | ||
Accountpayable | PolyChangdaEngineeringCo.,Ltd. | 29,736,553.34 | 25,621,536.30 |
Accountpayable | GuangzhongjiangExpresswayProjectManagementDept | 28,000,000.00 | 28,000,000.00 |
Accountpayable | GuangdongXinyueTrafficInvestmentCo.,Ltd | 10,405,248.06 | 13,149,675.40 |
Accountpayable | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 5,035,975.88 | 500,864.10 |
Accountpayable | GuangdongHualuTrafficTechnologyCo.,Ltd. | 4,960,992.02 | 2,198,660.67 |
Accountpayable | GuangzhouXinyueAsphaltCo.,Ltd. | 2,773,825.00 | 47,362.94 |
Accountpayable | GuangdongHumenBridgeCo.,Ltd. | 2,596,817.45 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
Accountpayable | GuangzhouAitesiCommunicationEquipmentCo.,Ltd. | 2,547,594.00 | 1,283,018.78 |
Accountpayable | GuangdongLulutongCo.,Ltd. | 2,525,256.06 | 3,560,871.60 |
Accountpayable | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 2,331,700.01 | 1,584,416.70 |
Accountpayable | GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | 1,759,707.90 | 8,929,645.80 |
Accountpayable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 1,291,067.95 | 85,074.95 |
Accountpayable | GuangdongProvincialFreewayCo.,Ltd. | 1,245,443.50 | 8,746,491.18 |
Accountpayable | GuangdongChangdaRoadMaintenanceCo.,Ltd. | 309,101.00 | 309,101.00 |
Accountpayable | GuangdongYueyunTrafficCo.,Ltd. | 168,277.20 | 268,021.00 |
Accountpayable | GuangdongUnionElectronServiceCo.,Ltd. | 50,286.78 | 254,011.26 |
Accountpayable | GuangdongJiaokeTestingCo.,Ltd. | 88,880.00 | |
Total | 95,737,846.15 | 94,627,631.68 | |
Advancereceived | GuangdongRoadNetworkDigitalMediaInformationTechnologyCo.Ltd. | 2,777.78 | |
Total | 2,777.78 | ||
OtherPayableaccount | PolyChangdaEngineeringCo.,Ltd. | 17,126,203.40 | 20,042,113.05 |
OtherPayableaccount | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 4,272,693.60 | 1,889,981.61 |
OtherPayableaccount | GuangdongHualuTrafficTechnologyCo.,Ltd. | 2,084,177.53 | 1,327,451.00 |
OtherPayableaccount | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 1,628,931.87 | 1,700,740.34 |
OtherPayableaccount | GuangdongChangdaRoadMaintenanceCo.Ltd. | 1,630,765.00 | 1,630,765.00 |
OtherPayableaccount | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 1,380,379.20 | 171,809.00 |
OtherPayableaccount | GuangdongLulutongCo.,Ltd. | 1,127,575.62 | 1,084,995.15 |
OtherPayableaccount | GuangzhouXinyueAsphaltCo.,Ltd. | 1,054,919.00 | 567,221.00 |
OtherPayableaccount | GuangzhongjiangExpresswayProjectManagementDept | 200,000.00 | 200,000.00 |
OtherPayableaccount | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 191,674.29 | 58,991.40 |
OtherPayableaccount | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 135,772.00 | 167,591.50 |
OtherPayableaccount | GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | 120,422.00 | 238,479.70 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
OtherPayableaccount | GuangdongTongyiExpresswayServiceAreaCo.,Ltd. | 120,000.00 | 120,000.00 |
OtherPayableaccount | GuangdongExpresswayMediaCo.,Ltd. | 50,000.00 | 70,000.00 |
OtherPayableaccount | GuangdongHighwayConstructionCo.,Ltd. | 40,459.66 | |
OtherPayableaccount | GuangdongYueyunTrafficRescueCo.Ltd. | 2,900.00 | 900.00 |
OtherPayableaccount | GuangdongProvincialFreewayCo.,Ltd. | 1,221,839,292.00 | |
OtherPayableaccount | GuangdongUnionElectronServiceCo.,Ltd. | 956,272.04 | |
Total | 31,166,873.17 | 1,252,066,602.79 | |
Contractliabilities | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 22,000.00 | |
Total | 22,000.00 | ||
Non-currentliabilitiesdue1year | GuangdongLitongRealestateInvestmentCo.,Ltd. | 11,862,198.24 | |
Non-currentliabilitiesdue1year | GuangdongCommunicationGroupFinanceCo.,ltd. | 229,166.68 | |
Non-currentliabilitiesdue1year | ZhaoqingYuezhaoHighwayCo.,Ltd. | 111,862.55 | |
Non-currentliabilitiesdue1year | GuangdongJiangzhongExpresswayCo.,ltd. | 43,065.00 | |
Total | 12,203,227.47 | 43,065.00 | |
LeaseLiabilities | GuangdongLitongRealestateInvestmentCo.,Ltd. | 2,445,724.58 | |
Total | 2,445,724.58 | ||
Long-termloans | GuangdongCommunicationGroupFinanceCo.,ltd. | 200,000,000.00 | |
Total | 200,000,000.00 | ||
Long-termpayable | GuangdongJiangzhongExpresswayCo.,ltd. | 36,000,000.00 | |
Total | 36,000,000.00 |
7.RelatedpartycommitmentNoneXII.Stockpayment
1.TheStockpaymentoverallsituation
□Applicable√Notapplicable
2.TheStockpaymentsettledbyequity
□Applicable√Notapplicable
3.TheStockpaymentsettledbycash
□Applicable√Notapplicable
4.ModificationandterminationofthestockpaymentNone
5.OtherNoneXIII.Commitments
1.SignificantcommitmentsSignificantcommitmentsatbalancesheetdateNone
2.Contingency
(1)Significantcontingencyatbalancesheetdate
(2)TheCompanyhavenosignificantcontingencytodisclose,alsoshouldbestatedNoneXIV.Eventsafterbalancesheetdate
1、ImportantnonadjustmentmattersOnFebruary18,2022,thecompanyreceivedthenoticeofGuangdongProvincialDepartmentoftransportationon
mattersrelatedtothedisposalofGuangzhouFoshanexpresswaytollexpirationissuedbyGuangdongProvincialDepartmentoftransportation[2022]No.24.Themaincontentsareasfollows:(1)thetollcollectionofGuangzhouFoshanexpresswaywillbestoppedfrom0:00onMarch3,2022,andtheexistingtollcollectionfacilitieswillberetainedtooperateasusualinthewayofzerorate,Allvehiclespassingthroughthissectionshallbeexemptedfromvehicletolls,andvehicletollsofothersectionsshallbechargedonbehalfofothers;(2)Afterthesuspensionoftollcollection,GuangfoExpresswayCo.,Ltd.willcontinuetoberesponsibleforthemanagementandmaintenanceofGuangfoExpressway.Atpresent,thecompanyisevaluatingtheimpactofthematteronthecompany.
2.Profitdistribution
InRMB
Profitordividendtobedistributed | 1,191,759,491.82 |
XVI.Othersignificantevents
1.SegmentinformationThecompany'sbusinessfortheGuangfoExpressway,theFokaiExpressway,GuanghuiExpresswayandJingzhuExpresswayGuangzhuSectiontollcollectionandmaintenancework,thetechnologyindustryandprovideinvestmentadvice,noothernatureofthebusiness,noreportablesegment.
2.GovernmentSubsidy
(1)Governmentsubsidiesincludedindeferredrevenuearesubsequentlymeasuredbythetotalamountmethod
Subsidyitem | Category | Openingbalance | Newsubsidyamountincurrentperiod | Thecarry-overincurrentperiodisincludedinprofitandlossamount | Otherchanges | Closingbalance | Presentationitemscarriedoverintoprofitorlossinthecurrentperiod | Asset-related/revenue-related |
Cancelthespecialsubsidyfortheexpresswayprovincialtollstationproject | Financialappropriation | 44,545,569.64 | 13,567,476.53 | 30,978,093.11 | Otherincome | Assetsrelated |
(2)Governmentsubsidiesincludedincurrentprofitsandlossesusingthetotalamountmethod
Subsidyitem | Category | Amountincludedinprofitorlossinthecurrentperiod | Presentationitemsincludedinprofitorlossinthecurrentperiod | Asset-related/revenue-related |
Subsidyforpoststabilization | Subsidyforpoststabilization | 1,198,029.54 | Otherincome | Incomerelated |
Workwithtraininginsteadoftrainingsubsidies | Subsidyforpoststabilization | 1,243,500.00 | Otherincome | Incomerelated |
Enterpriseswithindustrialtrainingsubsidies | Subsidyforpoststabilization | 339,000.00 | Otherincome | Incomerelated |
3.Otherimportanttransactionsandeventshaveanimpactoninvestorsdecision-making
(1)TheCompany'splantopurchase21%equityofGuangdongGuanghuiExpresswayCo.,Ltd.(hereinafterreferredtoas"Guanghui")heldbyGuangdongExpresswayCo.,Ltd.(hereinafterreferredtoas"GuangdongExpressway")bypaymentincashandrelatedmattershavebeenadoptedbytheresolutionofthethirdextraordinarygeneralmeetingofshareholdersin2020.AccordingtotheProfitCompensationAgreementsignedbyGuangdongExpresswayandtheCompany,itisagreedthatGuangdongExpresswayshallundertakethecompensationobligationwhentheactualnetprofitofGuanghuiislessthanthepredictednetprofitwithinthecompensationperiod.Thecompensationperiodistheyearwhenthetransactioniscompletedandthenexttwoyearsthereafter,namely2020,2021and2022.AfternegotiationbetweentheCompanyandGuangdongExpressway,thepredictednetprofitofGuanghuiafterdeductingnon-recurringgainsandlossesin2020,2021and2022isRMB652,477,500,RMB1,112,587,300andRMB1,234,200,900respectively.Withinthecompensationperiod,iftheaccumulatedrealizednetprofitattheendofanyfiscalyearofGuanghuidoesnotreachtheaccumulatedpredictednetprofit,GuangdongExpresswaywillcompensatethecompanyincash,andthespecificcompensationamountpaidbyGuangdongExpresswayinthatyearwillbecalculatedanddeterminedaccordingtothefollowingformula:currentcompensationamountpromisedforperformance=(accumulatedpredictednetprofitasoftheendofthecurrentperiod-accumulatedrealizednetprofitasoftheendofthecurrentperiod)÷sumofpredictednetprofitsofeachyearwithinthecompensationperiod×transactionpriceoftheunderlyingassets-accumulatedcompensatedamountofGuangdongExpressway.WhenthecompensationamountcalculatedineachyearislessthantheRMB0,thevalueshallbetakenasRMB0,andthecompensatedamountshallnotbereversed.
ThenetprofitofGuangzhou-HuizhouCompany(excludingnon-recurringgainsandlosses)in2020wasRMB769,232,600,RMB116,755,100morethanthepromisedamount;thenetprofitofGuangzhou-HuizhouCompany(excludingnon-recurringgainsandlosses)in2021wasRMB1,105,444,400,RMB7,142,900lessthanthepromisedamount;bytheendof2021,theaccumulatednetprofit(excludingnon-recurringgainsandlosses)wasRMB1,874,677,000,RMB109,612,200morethanthepromisedamount.TheCompanyintendstotransfer100%equityofGuangdongExpresswayTechnologyInvestmentCo.,Ltd.toGuangdongLeatopTechnologyInvestmentCo.,Ltd.,andthetransaction-relatedworkisbeingcarriedoutinanorderlymanner.
XVI..Notesofmainitemsinfinancialreportsofparentcompany
1.Accountreceivable
1.Classificationaccountreceivables.
InRMB
Category | Amountinyear-end | BalanceYear-beginning | ||||||||
BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Ofwhich | ||||||||||
Accrualofbaddebtprovisionbyportfolio | 24,208,692.49 | 100.00% | 24,208,692.49 | 27,004,827.41 | 100.00% | 100.00% | 27,004,827.41 | |||
Ofwhich: | ||||||||||
Total | 24,208,692.49 | 24,208,692.49 | 27,004,827.41 | 27,004,827.41 |
Accrualofbaddebtprovisionbysingleitem:NoneDisclosurebyaging
InRMB
Aging | Closingbalance |
Within1year(Including1year) | 24,208,692.49 |
Total | 24,208,692.49 |
(2)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiod
None
(3)Thecurrentaccountsreceivablewrite-offssituation
None
(4)Theendingbalanceofotherreceivablesowedbytheimputationofthetopfiveparties
InRMB
Name | Amount | Proportion(%) | Baddebtprovision |
GuangdongUnionElectronicServicesCo.,Ltd. | 23,870,394.36 | 98.60% | |
GuangdongLitongTechnologyInvestmentCo.,Ltd. | 338,298.13 | 1.40% | |
Total | 24,208,692.49 | 100.00% | -- |
(5)AccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(6)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNone
2.Otherreceivable
InRMB
Items | Year-endbalance | Year-beginningbalance |
Dividendreceivable | 1,205,472.90 | 2,705,472.90 |
Otherreceivable | 5,680,509.70 | 51,442,641.63 |
Total | 6,885,982.60 | 54,148,114.53 |
(1)Interestreceivable:None
(2)Dividendreceivable
1)Dividendreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
GuangdongRadioandTelevisionNetworksinvestment | 1,205,472.90 | 1,205,472.90 |
No.1Limitedpartnershipenterprise | ||
GanzhouGankangExpresswayCo.,Ltd. | 1,500,000.00 | |
Total | 1,205,472.90 | 2,705,472.90 |
2)Significantdividendreceivableagedover1year
InRMB
Items) | Balanceinyear-end | Aging | Reasonsfornon-recovery | Whetherornottheimpairmentandthebasisforitsdetermination |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 120,547,290.00 | 3-4years | Thepartnershipagreementexpiresandcanberecoveredaftertheextensionproceduresarecompleted | No,itcanberecoveredinthefuture |
Total | 120,547,290.00 | -- | -- | -- |
(3)Otheraccountsreceivable
1)Otheraccountsreceivableclassifiedbythenatureofaccounts
InRMB
Category | Balanceinyear-end | BalanceYear-beginning | ||||||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Expectedcreditlossrate(%) | Amount | Proportion(%) | Amount | Expectedcreditlossrate(%) | |||
Otherreceivablesforindividualbaddebtprovision | 30,844,110.43 | 84.45 | 30,844,110.43 | 100 | 0 | 30,844,110.43 | 37.44 | 30,844,110.43 | 100 | 0 |
Otherreceivablesforbaddebtprovisionaccordingtothecombinationofcreditriskcharacteristics | 5,680,509.70 | 15.55 | 5,680,509.70 | 51,536,223.63 | 62.56 | 93,582.00 | 0.18 | 51,442,641.63 | ||
Total | 36,524,620.13 | / | 30,844,110.43 | / | 5,680,509.70 | 82,380,334.06 | / | 30,937,692.43 | / | 51,442,641.63 |
Accrualofbaddebtprovisionbysingle:
InRMB
BadDebtReserves | Closingbookbalance | |||
Bookbalance | Baddebtprovision | Expectedcreditlossrate(%) | Reason | |
KunlunSecuritiesCo.,Ltd | 30,844,110.43 | 30,844,110.43 | 100.00 | Baddebtswerewithdrawninfullinbankruptcy |
Total | 30,844,110.43 | 30,844,110.43 | / | / |
Intheportfolio,Disclosurebyaging
InRMB
Aging | Balanceinyear-end | ||
Otherreceivable | Baddebtprovision | Expectedcreditlossrate(%) | |
Within1year | 963,300.00 | ||
Total | 963,300.00 |
Intheportfolio,otherreceivableswithbaddebtprovisionbyothermethods:
InRMB
Name | Balanceinyear-end | BalanceYear-beginning |
Depositmoneyandqualityguaranteefundcombination | 2,102,176.36 | 2,489,275.36 |
Other | 2,615,033.34 | 3,088,614.27 |
Subtotal | 4,717,209.70 | 5,577,889.63 |
Less:Baddebtprovision | ||
Total | 4,717,209.70 | 5,577,889.63 |
)Thewithdrawalamountofthebaddebtprovision:
InRMB
BadDebtReserves | Stage1 | Stage2 | Stage3 | Total |
Expectedcreditlossesoverthenext12months | Expectedcreditlossoverlife(nocreditimpairment) | Expectedcreditlossesfortheentireduration(creditimpairmentoccurred) | ||
BalanceasatJanuary1,2021 | 93,582.00 | 30,844,110.43 | 30,937,692.43 | |
BalanceasatJanuary1,2021incurrent | —— | —— | —— | —— |
Turnbackinthisperiod | -93,582.00 | -93,582.00 | ||
Balanceasat | 30,844,110.43 | 30,844,110.43 |
Changesinsignificantbookbalancesforlosspreparationcurrentperiod
□Applicable√Notapplicable3)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodNone
4)Theactualwrite-offotheraccountsreceivable:None
5)Otherreceivablesareclassifiedbythenature
InRMB
December31,,2021Nature
Nature | Closingbookbalance | Openingbookbalance |
Securitiestradingsettlementfunds | 30,844,110.43 | 30,844,110.43 |
Lessreceivable | 45,000,000.00 | |
Deposit | 2,102,176.36 | 2,490,271.36 |
Pettycash | 1,519,593.22 | 2,140,410.04 |
Other | 2,058,740.12 | 1,905,542.23 |
Subtotal | 36,524,620.13 | 82,380,334.06 |
Less:Baddebtprovision | 30,844,110.43 | 30,937,692.43 |
Total | 5,680,509.70 | 51,442,641.63 |
6)Top5oftheclosingbalanceoftheotheraccountsreceivablecollatedaccordingtothearrearsparty
InRMB
Name | Nature | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccountsreceivable(%) | Closingbalanceofbaddebtprovision |
KunlunSecuritiesCo.,Ltd | Securitiestradingsettlementfunds | 30,844,110.43 | Over5years | 84.45% | 30,844,110.43 |
GuangdongLitongRealEstatesInvestmentCo.,Ltd. | Deposit | 1,630,467.36 | 1-2years | 4.53% | |
22,980.00 | Within1year | ||||
ChinaRailwayNo.18BureauGroupCo.,Ltd. | Surrogatepayment | 963,300.00 | Within1year | 2.64% | |
GuangdongProvincialFreewayCo.,Ltd. | Entrustedmanagementfee | 463,491.88 | Over5years | 1.27% |
Savills | Vehicleparkingdeposit | 4,200.00 | Within1year | 1.15% | |
Waterandelectricitycostsworkingcapital | 92,117.00 | 1-2years | |||
Officebuildingmanagementfeedeposit | 322,408.00 | 1-2years | |||
Total | -- | 34,343,074.67 | -- | 94.03% | 30,844,110.43 |
(7)AccountsreceivableinvolvedwithgovernmentsubsidiesNone
(8)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(9)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivableNone
3.Long-termequityinvestment
InRMB
Items | Endofterm | Beginningofterm | ||||
BookBalance | Impairmentprovision | Bookvalue | BookBalance | Impairmentprovision | Bookvalue | |
Investmentinsubsidiaries | 3,257,062,345.85 | 3,257,062,345.85 | 3,232,062,345.85 | 3,232,062,345.85 | ||
Investmentinjointventuresandassociates | 2,535,548,456.61 | 2,535,548,456.61 | 2,297,846,380.72 | 2,297,846,380.72 | ||
Total | 5,792,610,802.46 | 5,792,610,802.46 | 5,529,908,726.57 | 5,529,908,726.57 |
(1)Investmenttothesubsidiary
InRMB
Name | Openingbalance | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||
Addinvestment | Decreasedinvestment | Withdrawnimpairmentprovision | Other | ||||
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 871,171,883.08 | 871,171,883.08 | |||||
GuangfoExpresswayCo.,ltd. | 154,982,475.25 | 154,982,475.25 | |||||
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 95,731,882.42 | 95,731,882.42 | |||||
YuegaoCapitalInvestment(Guangzhou)Co.,Ltd. | 84,500,000.00 | 25,000,000.00 | 109,500,000.00 | ||||
GuanghuiExpresswayCo.,Ltd. | 2,025,676,105.10 | 2,025,676,105.10 |
Total | 3,232,062,345.85 | 25,000,000.00 | 3,257,062,345.85 |
(2)Investmenttojointventuresandassociatedenterprises
InRMB
Name | Openingbalance | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
Increaseininvestment | Decreaseininvestment | Investmentincomeunderequitymethod | Othercomprehensiveincome | Otherchangesinequity | Announcedfordistributingcashdividendorprofit | Provisionforimpairment | Other | ||||
I.Jointventures | |||||||||||
II.Associatedenterprises | |||||||||||
GuangdongJiangzhongExpresswayCo.,Ltd. | 192,252,504.94 | 133,650,000.00 | 20,810,859.29 | 28,621,724.94 | 318,091,639.29 | ||||||
GanzhouGankangExpresswayCo.,Ltd. | 145,774,620.72 | 8,343,776.40 | 154,118,397.12 | ||||||||
GanzhouKangdaExpresswayCo.,Ltd. | 216,814,090.50 | 48,286,927.19 | 27,000,000.00 | 238,101,017.69 | |||||||
ShenzhenHuiyanExpresswayCo.,Ltd. | 285,408,755.15 | 35,557,629.02 | 320,966,384.17 | ||||||||
ZhaoqingYuezhaoHighwayCo.,Ltd. | 302,436,218.83 | 53,076,732.52 | 39,675,000.00 | 315,837,951.35 | |||||||
GuoyuanSecuritiesCo.,Ltd. | 938,476,820.74 | 44,593,073.57 | 9,716,087.81 | 20,696,516.40 | 972,089,465.72 | ||||||
GuangdongYuepuSmallRefinancingCo.,Ltd | 216,683,369.84 | 10,970,165.76 | -4,118,261.28 | 7,191,673.05 | 216,343,601.27 | ||||||
Subtotal | 2,297,846,380.72 | 221,639,163.75 | 9,716,087.81 | -4,118,261.28 | 123,184,914.39 | 2,535,548,456.61 | |||||
Total | 2,297,846,380.72 | 2,535,548,456.61 |
4.BusinessincomeandBusinesscost
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | ||
Revenue | Cost | Revenue | Cost | |
Mainbusiness | 1,454,377,306.80 | 714,045,421.17 | 961,484,310.59 | 650,430,454.36 |
Other | 14,987,127.57 | 4,588,762.80 | 13,956,071.99 | 5,240,167.71 |
Total | 1,469,364,434.37 | 718,634,183.97 | 975,440,382.58 | 655,670,622.07 |
5.Investmentincome
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Long-termequityinvestmentincomeaccountedbycostmethod | 1,007,249,778.63 | 565,261,660.63 |
Long-termequityinvestmentincomeaccountedbyequitymethod | 221,639,163.75 | 343,597,391.91 |
Investmentreturnoninvestmentsheldtomaturityduringtheholdingperiod | 50,056,360.49 | 50,785,213.04 |
Interestincomefromdebtinvestmentduringholdingperiod. | 37,923,704.59 | 50,332,058.95 |
Total | 1,316,869,007.46 | 1,009,976,324.53 |
XVII.SupplementaryInformation
1.Currentnon-recurringgains/losses
√Applicable□Notapplicable
InRMB
Items | Amount | Notes |
Gains/Lossesonthedisposalofnon-currentassets | 4,350,214.54 | |
Governmentgrantsrecognizedinthecurrentperiod,exceptforthoseacquiredintheordinarycourseofbusinessorgrantedatcertainquotasoramountsaccordingtothecountry’sunifiedstandards | 16,348,006.07 | |
Netamountofnon-operatingincomeandexpenseexcepttheaforesaiditems | -5,840,734.56 | |
Othernon-recurringGains/lossitems | 1,252,349.09 | |
Less:Influencedamountofincometax | 4,027,139.54 | |
Influencedamountofminorshareholders’equity(aftertax) | 4,767,353.02 |
Total | 7,315,342.58 | -- |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
□Applicable√Notapplicable
None
FortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.
□Applicable√Notapplicable
2.Returnonequity(ROE)andearningspershare(EPS)
Profitasofreportingperiod | WeightedaverageROE(%) | EPS(Yuan/share) | |
EPS-basic | EPS-diluted | ||
NetprofitattributabletocommonshareholdersoftheCompany | 20.11% | 0.81 | 0.81 |
NetprofitattributabletocommonshareholdersoftheCompanyafterdeductionofnon-recurringprofitandloss | 20.03% | 0.81 | 0.81 |
3.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards
(1).SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.
□Applicable□√Notapplicable
(2).DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable□√Notapplicable
(3).Explanationofthereasonsforthedifferencesinaccountingdataunderdomesticandforeignaccountingstandards.Ifthedatathathasbeenauditedbyanoverseasauditinstitutionisadjustedfordifferences,thenameoftheoverseasinstitutionshouldbeindicatedNone